Lansdowne Oil and Gas shares to restart trading

Troubled Irish explorer Lansdowne Oil and Gas has applied for a resumption of trading in its shares to take effect from Wednesday of this week.

The Dublin-headquartered exploration company’s shares – which are listed on London’s AIM market - have been suspended since mid-April and a London Court of Appeal ruling that Lansdowne and its senior partner, Providence Resources must pay up to $7m in fees to drilling services firm Transocean over a long-running dispute relating to the Barryroe field in the Celtic Sea.

Lansdowne, last month, announced the intention to issue new shares at a discounted rate in an emergency funding drive.