1 Dec 2014 15:00
01 December 2014
Fastnet Oil & Gas plc
("Fastnet", the "Company" or the "Group")
Response to Press Speculation
Fastnet (AIM: FAST, ESM: FOI), the UK and Irish listed E&P company focused on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, notes the recent press speculation stating that the Board is currently considering a return of capital to shareholders.
The Board remains committed to developing and/or monetising its assets. The Company is continuing to work the farm out process in relation to the Group's Celtic Sea assets. However this will not be completed in 2014. The Board is actively considering all options to grow and retain shareholder value including a potential return of capital should the Board deem it the most appropriate course of action in the coming months.
For further information please contact:
Fastnet Oil & Gas plc Cathal Friel, Chairman Paul Griffiths, Managing Director Will Holland, Chief Financial Officer | +353 (1) 644 0007 |
Shore Capital Nomad Bidhi Bhoma, Edward Mansfield
Corporate Broking Jerry Keen |
+44 (0) 20 7408 4090 |
GMP Securities Europe LLP (Joint Broker) Rob Collins, Emily Morris, Liz Williamson |
+44 (20) 7467 2800
|
Davy (ESM Adviser & Joint Broker) John Frain, Anthony Farrell |
+353 (1) 679 6363 |
Bell Pottinger Philip Dennis, Rollo Crichton-Stuart, Jimmy Lea |
+44 (0) 0203 772 2500
|