Lansdowne Oil and Gas PLC

Management Reports • Jul 20, 2016

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RNS Number : 7696E

Lansdowne Oil & Gas plc

20 July 2016

Lansdowne Oil & Gas plc

Result of Annual General Meeting, retirement of Chairman, John Greenall and appointment of Viscount Torrington as new Chairman of the Board

20 July 2016

Lansdowne Oil & Gas ("Lansdowne" or "the Company"), the independent oil and gas company focussed on offshore Ireland, is pleased to announce that at its Annual General Meeting held earlier today all resolutions were duly approved by shareholders.

Also at the AGM, Lansdowne's Chairman, John Greenall, announced his retirement with immediate effect and the appointment of Viscount Torrington, formerly a Non-Executive Director of Lansdowne, as the new Chairman.

John Greenall commented:

"Now that the immediate problems associated with the Transocean litigation payment have been resolved, it is time to look forward to creating value from our 20% interest in Barryroe, which by any standards is a significant resource with attractive costs of development and production. We have also made reductions in our running costs going forward and with this background, I am announcing my retirement as Chairman and am pleased to announce that (Viscount) Tim Torrington has been appointed to take over the reins. Tim has a wealth of experience in the sector and I wish him well - hopefully in calmer waters".

Viscount Torrington commented:

"On behalf of all Lansdowne Directors and shareholders, I would like to thank Johnny for his insightful leadership for more than 10 years, since Lansdowne's inception. He has worked tirelessly to further the company's interests and we all wish him the very best for his retirement".

For further information please contact:

Lansdowne Oil & Gas plc Steve Boldy	+353 1 495 9259
Cantor Fitzgerald Europe Sarah Wharry David Porter	+44 (0) 20 7894 7000

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com.

This information is provided by RNS

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