North Celtic Sea-focussed Lansdowne Oil & Gas has published an operational update citing findings from its latest seismic inversion work in the Galley Head gas accumulation and Midleton and SE Rosscarbery prospects.
Results of the seismic inversion highlighted positive fluid anomalies which were likely indicative of the presence of gas, the group stated. Additional fluid anomalies were also identified in the Upper Wealdon sands in Main Rosscarbery and other prospects.
The group stated that fluid anomalies endorsed the structural interpretations of the prospects and further de-risked the opportunities ahead of drilling.
Steve Boldy, Chief Executive Officer of Lansdowne Oil & Gas, said: ‘The results of the 3D seismic inversion work are exciting and positively demonstrate the benefits of using the latest technology. The Amergin oil prospect and the gas prospects have been substantially de-risked and the conceptual development studies endorse the commercial possibilities of these prospects.’
AIM-listed Lansdowne has its headquarters in Dublin and the group’s share price was up 0.9% to 53.50p at 11:22 on Thursday morning.