Lansdowne Oil & Gas provide an update on the interpretation of the recently processed 3D seismic surveys acquired in the summer of 2011 over its Rosscarbery licence area in the North Celtic Sea, offshore Ireland.

Rosscarbery Prospects Summary

(Standard Exploration Licence 5/07- part- Blocks 48/17, 48/18, 48/19, 48/22 & 48/24)

Last year's 3D seismic programme covered the Galley Head gas discovery and other prospects in the Rosscarbery licence area.

Following interpretation of the 3D seismic, the Galley Head gas discovery is now interpreted by Lansdowne as having gross P50 in place volume of 30 BSCF GIIP with 25 BSCF potentially technically recoverable. This compares favourably with the historic RPS Competent Persons Report, February 2011 ("CPR") that calculated gross P50 in place volume of 7.1 bcf GIIP with some 5.3 BSCF considered technically recoverable.

Tags: Lansdowne Oil & Gas