Nine ‘frontrunners’ for Fastnet assets

Nine parties have expressed serious interest about investing in the Celtic Sea and onshore Moroccan assets of Irish exploration firm Fastnet Oil & Gas.

The Dublin-based company yesterday said, via a presentation for investors, that ongoing farm-out negotiations regarding its Tendrara-Lakbir field in Morocco and its numerous Celtic Sea prospects are “well under way”, adding that there are currently “nine frontrunners” in the picture.

The company said it is reviewing a number of “new niche opportunities” onshore in eastern Africa.