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Lansdowne Oil & Gas ( (GB:LOGP) ) just unveiled an update.
Lansdowne Oil & Gas has raised an additional £110,000 through unsecured, interest-free convertible loan notes from existing shareholders, bringing the total outstanding to £440,000 to support working capital, litigation costs tied to its arbitration claim against the Irish government, and expenses related to a planned reverse takeover. The company says it now has sufficient funds for these purposes, expects to complete the reverse takeover in April 2026 subject to funding and documentation, and confirms that AIM trading in its shares will remain suspended until the transaction is approved or it is readmitted as an investing company, while noting that its chairman Jeffrey Auld has participated in the latest loan round on terms deemed fair and reasonable by independent directors.
More about Lansdowne Oil & Gas
Lansdowne Oil & Gas is an exploration and appraisal company focused on oil and gas assets in the North Celtic Sea, headquartered in Dublin and quoted on London’s AIM market. After the Irish government refused a lease undertaking for its Barryroe Field interest in 2023, the company became a cash shell and has since focused on securing funding and pursuing an Energy Charter Treaty arbitration claim against Ireland.
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.39M
See more insights into LOGP stock on TipRanks’ Stock Analysis page.