Lansdowne begins AIM trading

Oil and gas exploration company Lansdowne has been admitted to trading on the UK's AIM market.

The company has placed 1,882,353 shares at an issue price of 85p which raised £1.6m (€2.3m) before expenses. At the placing price, Lansdowne has a market capitalisation of £17.7m (€25.6m).

Lansdowne holds one frontier exploration licence in the Donegal basin and four Celtic Sea licensing options, covering a total of more than half a million acres of offshore Ireland.

In February 2006, the company completed a private placing which raised approximately £750,000 (€1m) to provide working capital for the group.