 RNS 10 Feb 2025
10 February 2025
Lansdowne Oil & Gas plc
("Lansdowne" or the "Company")
Convertible Loan Agreement
Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") is pleased to confirm that the Company has entered into a Convertible Loan Agreement for GBP 45,000 (the "Loan"), arranged by Tavira Financial Limited, the Company's joint broker, with a number of existing shareholders.
Lansdowne intends to use the funds to provide working capital whilst discussions continue with potential funders for Lansdowne's Energy Charter Treaty claim against Ireland and work progresses towards a potential reverse takeover. The Company is also in the process of completing its accounts for the full year to 31 December 2023 and six month period to 30 June 2024.
The Company expects to raise further funds via the CLN process over the coming weeks as required and further announcements will be made as necessary.
Trading in the Company's shares on AIM will remain suspended until the completion of a reverse takeover, which requires the publication of an admission document and the approval of such a transaction at a General Meeting of the Company, or the Company is readmitted to trading on AIM as an investing company.
Loan terms
The Loan terms are the same as those previously entered into and announced on 20 September 2024. The Loan is unsecured, carries no interest and shall be converted into new ordinary shares of 0.01 pence each in the Company ("New Ordinary Shares") at the time of completing a reverse takeover and subject to shareholder approval for the extension of share issuance authorities. The conversion price will be the lower of 0.1 pence (being the share price at the time of suspension on 21 March 2024), or a 20% discount price to the issue price at the time of any issuance of shares alongside a future reverse takeover. |
Shorters delight. |
CC agree but might bag 40x even if no deal on Barryroe its a great shell that could easily 2,3,4 bag. |
Worth a punt if you have a bit of spare cash that you can afford to lose and tie up for a few months. Might bag 20+ times (?!)
GLTA and DYOR |
Smaller projects more likely to get a higher percentage of their claims than the big billions of EUR one's, so a good chance of Lansdowne getting a decent (20 percent or more) of it's claim. |
Check out the payout stats for the charter treaty. Look at the fossil fuels bottom left. I did and took a small gamble of 2 grand based on the risk/reward.
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That is from: |
1/TREE(3) isn't. You cannot imagine how small this is. |
Better odds than Euromillions nevertheless! |
It should be cautioned that there is no guarantee that the Claimants will be successful in the ECT Claim. Moreover, in the event the Barryroe licence is reinstated, potentially leading to the ECT Claim being subsequently withdrawn, the Company's full economic interest in Barryroe will remain with the Company.
I put 1/TREE(3) chance in us getting any money back. |
Any update on this? |
Ryan at it again..... COP28
“Key elements have to change,” said Irish minister Eamon Ryan. |
Ian, it should not be too long before we know the direction of travel for Vevan and Lansdowne, Vevan are due to share their business plan details within 30 days of the SOA confirmation on November 8th and LG does not strike me as an individual who is likely to walk away from an asset that can deliver €Billions of Euros, plus Ryan's energy security plans are borderline fantasy land, once all the ducks are in a row I am sure it will be game on!,.. GL S |
Where there is life there is hope....
Nice to see LOGP still hanging in.
As a pure binary bet - if the Beef Baron can negotiate his way around the many hurdles, and finally get Barryroe moving, and LOGP can retain a %, then there is hope.
Not for widows and orphans, and a complete long shot, but decent returns possible??? |
A lot of activity here today.
Something happened? |
Yup long overdue . They spent years sat on this doing nothing and collecting wages . Unfortunately this is pretty common with aim companies. Eventually it ends after they have retired or milked it for as much as possible .
A waste of an asset |
Sales, rather. |
I wonder who's buying these sells |
Looks like it's going the same way as Ramco and Sea Energy ....dissolved. |
Now below their par value so cannot issue anymore shares until the price climbs back over 0.10p or they hold a GM to reorganise the capital base. |
Would be nice to see the expense invoices. Perhaps they just had a big share out to the tune of £16.1m. |
Loss for the period after tax of £16.1 million (2022: loss £0.4 million).
Gulp |
Problem is either way the don't have any money to develop it and can't find a farm in partner ,well not one that actually has money to develop it .
I don't see it as quite so cut and dry . License expire and run out and usually have a lot of red tape if certain things aren't delivered . For me logo has delivered nothing for a very long time here so can see them losing the license and case .
For some nothing left to lose if they gave been here a long time but I wouldn't be buying in expecting it to recover |
The government were waiting for LOGP to call in the administrators and waited until the very last day. It didn't happen so they are now proposing a consultation period. |
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