Fastnet gets more time for Celtic Sea studies
Fastnet Oil & Gas has won 18-month extensions to two licensing options in Celtic Sea off southern Ireland.
DUBLIN, Ireland -- Fastnet Oil & Gas (AIM: FAST, ESM: FOI) has won 18-month extensions to two licensing options in Celtic Sea off southern Ireland.
The Irish Department of Communications, Energy and Natural Resources granted the extensions for Licensing Option 12/3 (Mizzen) and Licensing Option 12/2 (Molly Malone) until May 31, 2015, giving Fastnet more time to complete its work program.
On expiry, the company may elect to apply to convert both options to exploration licenses.