Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement with Oil and Gas Investments Funds (OGIF) (the "Option Agreement"), in relation to eight Exploration Permits comprising the Tendrara Lakbir Petroleum Agreement (the Tendrara Licence) onshore Morocco. Following substantive negotiations with its partner OGIF, Fastnet has secured improved commercial terms from those previously announced on 29 May 2013. · The deadline to drill the first well has been extended from 30 September 2014 to 21 April 2015.