SeaEnergy invests £1.7m in Lansdowne

MARINE energy group SeaEnergy yesterday said it had agreed to invest £1.71 million in Lansdowne Oil & Gas as part of a share placing by the Aberdeen company to raise £6m.

Following the investment, SeaEnergy, which is also based in Aberdeen, will hold 24.7 per cent of Lansdowne which is raising the funds for the drilling of an appraisal well on the Barryroe field in the Irish Sea.

Lansdowne's share of the costs of the drilling, to which partners Providence Resources and San Leon Energy are also contributing, is expected to be around 5m.