TIDMFAST

RNS Number : 5104Y

Fastnet Oil & Gas PLC

01 December 2014

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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