Tuesday 26 September 2017

Fastnet Oil in talks with potential bidders for Celtic Sea assets

Donal O'Donovan

Donal O'Donovan

NEW Irish oil exploration company Fastnet Oil & Gas has begun sharing information with potential bidders for its assets in the Celtic Sea.

Shares were unchanged today at 32 cents each following the announcement.

The company opened a “data room” for the Celtic Sea assets on 22 March 2013 with a range bidders now going through the sales information, it said in a notice to the stock market.

Potential bidders range from major international oil companies to other small firms, Fastnet said. 

“Super majors, mid-caps and small-caps are conducting initial due diligence,” the company said.

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