Fastnet Oil & Gas plans asset disposal
The company — which has its shares listed in Dublin and London — has a basic plan of proving viability at each of its licences in Morocco and Ireland before selling them and directly returning the proceeds to shareholders, most likely via a tender offer.
While Fastnet has one of the largest acreage positions in the Celtic Sea of any independent explorer, initial drilling at any of its licences in Irish waters is not anticipated until around the halfway point of 2015.
