Lansdowne agrees Milesian terms

ANGLO-IRISH exploration company, Lansdowne Oil & Gas has tentatively agreed terms to buy rival company, Milesian Oil & Gas for an initial consideration of £4.28 million (€5.98m).

Milesian’s main assets are located in the Celtic Sea off the south coast of Ireland.

As a result of the deal, Milesian’s directors will join the Lansdowne board and Ramco Energy will see its shareholding in Lansdowne fall from 61% to 50%.