Source - SMW
Lansdowne Oil & Gas has noted an announcement today by Providence Resources that the minister of state at the department of communications, climate action and environment had given his consent for the assignment of:
 
-    10% of Providence's interest in the Helvick lease undertaking to Lansdowne Celtic Sea Limited

-    10% interest in the Helvick LU to Marginal Field Development Company Limited through a farm-out agreement.

Lansdowne said that on completion of the farm out agreement, the revised equity participations in the Helvick LU will be:  Providence Resources (56.25%, operator), Atlantic Petroleum (Ireland) (16.50%), Sosina Exploration (8.25%), Lansdowne Celtic Sea Limited (9%) and Marginal Field Development Company Limited (10.0%).  




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