Lansdowne launches strategic review. Sale of business an option

Independent oil and gas company Lansdowne has launched a review of the company’s strategic options, aiming to “maximising value for shareholders.”

The company, which recently farmed out a stake in its SEL 4/07 block, offshore Ireland. to Kinsale Energy, a subsidiary of Malaysia’s Petronas, said that the strategic review will be wide-ranging.

“The review of strategic options may include a corporate transaction such as a merger with, acquisition of or subscription for the Company’s securities by a third party, a sale of the business or a farm down or disposal of assets,” Lansdowne said in a statement.

Lansdowne has said that the company is now considered to be in an “Offer Period” as defined in the Takeover Code.

Lansdowne has its operating headquarters based in Dublin, Ireland with its registered office in London, England.  The company is focused on oil and gas exploration and appraisal opportunities in the North Celtic Sea Basin (“NCSB”) offshore southern Ireland.

 

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