I have held a modest shareholding in Lansdowne (LOGP) for a few months. My rationale
for buying was that the company has a 20% interest in the Barryroe discovery, offshore
Ireland in the Celtic Sea, where Providence Resources owns the balance and is operator.
This discovery has audited 2C recoverable contingent resources of 69mmboe net to
Lansdowne, with considerable potential upside at Barryroe and numerous other
prospects. Lansdowne’s market cap. of ~£62m at the time I bought seemed rather low
to me for a discovery of that ...