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Lansdowne Oil & Gas ( (GB:LOGP) ) has issued an announcement.
Lansdowne Oil & Gas has secured non-recourse funding from U.S. law firm Diamond McCarthy LLP to pursue an Energy Charter Treaty arbitration claim against the Irish state over the refusal to grant a Lease Undertaking for the Barryroe oil and gas field, with a gross compensation claim of at least $100 million plus interest and Lansdowne expecting to retain 60–70% of any award around that level. The company, whose shares remain suspended, also reported that documentation for its planned reverse takeover is close to completion, with the transaction and readmission to AIM now expected in the first quarter of 2026, developments that could significantly influence its financial position and strategic options following the loss of the Barryroe asset.
More about Lansdowne Oil & Gas
Lansdowne Oil & Gas plc is an oil and gas exploration and appraisal company quoted on London’s AIM market, historically focused on the North Celtic Sea and notably holding a 20% interest in the Barryroe oil and gas field before Ireland refused a Lease Undertaking for the project. Following that refusal and its subsequent designation as a cash shell, the company has shifted focus toward pursuing legal remedies and completing a reverse takeover to secure its future on AIM.
Technical Sentiment Signal: Sell
Current Market Cap: £1.39M
See more insights into LOGP stock on TipRanks’ Stock Analysis page.