October 14 2014, 12:48pm Of course Barryroe is the focus because of its huge potential - it could produce an initial 30,000 barrels when production gets underway, rising to a 100,000, according to Cantor.

Cantor Fiztgerald has initiated coverage of () with a buy recommendation and 86p a share price target.

That valuation represents a significant premium to the current 13p price and recognises the overlooked potential.

Not only does it have a 20% stake in the Barryroe Field in Ireland's Celtic Sea, but a portfolio of other that have been ascribed negligible worth by the market.

Of course Barryroe is the focus because of its huge potential - it could produce an initial 30,000 barrels when production gets underway, rising to a 100,000, according to Cantor.

The search to find a partner with deep pockets willing to help develop the is expected to be concluded imminently.

However this tends to overshadow the potential of assets such as Helvick, Middleton, Rosscarbery and Amergin, also in the North Celtic Sea.

"We believe Lansdowne offers investors exposure to a well-diversified explorer with a material acreage position in an emerging hydrocarbon province," said Cantor analyst Sam Wahab.

"Whilst the market's focus to date has centred on the company's 20% interest in the Barryroe oil field, this is far from the whole Lansdowne  story in our view. 

"With the farm down of this key asset expected imminently, the company will place a greater focus on its remaining portfolio of prospects and discoveries, which in a success case could transform its valuation."


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