Lansdowne Oil & Gas has announced that, following the filing of a Request For Arbitration ('RFA') regarding its dispute with Ireland regarding the Barryroe oil and gas field, at the International Centre for Settlement of Investment Disputes ('ICSID') in Washington, D.C., on the 8 May 2026 the Company received written confirmation from ICSID that the ICSID Secretary-General has registered the Request. Details of the Arbitration can be found on the ICSID Website.
This is an important step in the arbitration process and will now be followed by the appointment of a tribunal. Lansdowne will continue to vigorously assert its rights under the Energy Charter Treaty ('ECT') in its dispute with Ireland. As previously reported, the Company is pursuing a claim of a minimum US$100 million plus interest.
On 27 April 2026 the ECT Secretariat announced that it had received notification of Ireland's withdrawal from the Treaty. It further noted that this will become effective one year after its notification to the Secretariat - from 28 April 2027. It also noted that Ireland will continue to be bound by the 20-year sunset clause. Accordingly, Ireland's withdrawal from the ECT will have no bearing on Lansdowne's case.
In June 2023 Lansdowne gave notice to Ireland that a dispute existed under the ECT and the filing and registration of the RFA brings to a close the first formal step in the arbitration process.
Stephen Boldy, CEO of Lansdowne commented:
'On behalf of Lansdowne and all our shareholders, I would like to thank the legal teams from Diamond McCarthy and Mantle Law who have worked to produce the RFA and we look forward to the next steps in the arbitration process in our quest to seek just compensation for the loss of our Barryroe asset.
'It is expected that the Company will recommence trading on the AIM of the London Stock Exchange on 27 May 2026, subject to shareholder approval of the resolutions at the upcoming General Meeting on 26 May 2026.'
Source: Lansdowne Oil & Gas
