Offshore Ireland explorer Fastnet Oil and Gas said today it had picked up additional Irish acreage, agreed a farm-in and appointed a new director.
The firm – founded and listed on the Alternative Investment Market in June – was offered five part blocks, partially drilled by Marathon Oil in the 1970s and 1980s, in the north Celtic Sea.
It has also farmed into the Shanagarry licensing option east of the Kinsale gas field and Providence’s Barryroe discovery.
Paul Griffiths – previously vice president of exploration – has been appointed managing director, replacing Stephan Staley, who will become a non-executive director.
Cathal Friel, previously non-executive chairman, is to become executive chairman.
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