Oil company gets Celtic Sea options

Irish-backed international exploration company Fastnet Oil & Gas has been granted a number of licensing options in the Celtic Sea.

The company — which raised €12.4m on its debut share trading session on Dublin’s ESM market for small and mid-cap companies on Monday — has been awarded options in the Molly Malone Basin and the Mizzen Basin off the south coast.

Fastnet’s main areas of interest, at present, are off the south coast of Ireland and in Africa. The two Irish options it has been awarded cover nine separate blocks in the two basins.