Fastnet Announces Improvement of Deep Kinsale Option
Fastnet the UK and Irish listed E&P company focussed on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce that it has entered into an amended exclusive option agreement with PSE Kinsale Energy Limited ("Kinsale Energy"), a wholly owned subsidiary of PETRONAS, in relation to the "Deep Kinsale Prospect". The Deep Kinsale Prospect extends from 4,000 feet subsea below the producing Kinsale Head gas field and is defined by a sub-area (the "Deep Kinsale Sub-Area") of Petroleum Lease No. 1 (see map of the area on the Company's website: www.fastnetoilandgas.com/go/operations/ireland). Following agreement with Kinsale Energy…
Fastnet Oil & Gas Plc Provides Africa & Celtic Update
Ahead of investor meetings today, Fastnet, the E&P company focused on exploring in Africa and in the Celtic Sea, provides an update on its operations, including its proposed forward work programmes and farm-out activities. An updated corporate presentation is now available on the Company's website (http://www.fastnetoilandgas.com/investor-relations/presentations/2014.aspx) providing an overview of the Company's recent corporate developments and its asset portfolio. · * 3D seismic confirms five potential reservoir targets with potential for substantial in-place oil based on structural size, up to 140 sq. · * A two-stage farmout process is underway with increased interest following the highly successfully Celtic Sea Conference held in Dublin in April.
