Management at Lansdowne Oil and Gas has maintained the company still has a future, despite highly anticipated drilling at one of its assets in the Celtic Sea failing to find any commercial potential.

AIM-listed explorer Lansdowne Oil & Gas is open to the idea of taking a second share listing, in Dublin, sometime in the future.

THE Seven Heads gas field off the Cork coast suffered a major setback yesterday as its operator, Scottish energy firm Ramco, said they were preparing to downgrade the value and amount of reserves in the field.