Lansdowne Oil & Gas plc has secured further convertible loan agreements for £100,000 with a “number of existing shareholders”.
ECT
The Dublin-based company said that the aggregate CLNs outstanding are now £330,000.
Lansdowne will use the funds for working capital as it progressing towards a potential reverse takeover, targeted to complete during the first quarter of 2026.
Trading in the company’s shares remain suspended until completion of the reverse takeover.
Lansdowne aims to appraise and develop its Barryroe field in the North Celtic Sea basin, off the south coast of Ireland.
In May 2023, the Irish Department of the Environment, Climate and Communications refused the company’s application for a lease undertaking for Barryroe, in which Lansdowne held a 20% interest.
In the following month, the company began action under the arbitration process of the Energy Charter Treaty.
On 20 September 2023, Lansdowne became a cash shell and its shares were suspended from trading on AIM on 21 March 2024.
The company secured third-party litigation funding in December 2025 to pursue its ECT claim against the Irish Government.