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Oil hunt gets go-ahead

IRISH-supported exploration company Fastnet Oil & Gas has been given the green light for licensing options in the Celtic Sea.

The company has been awarded options in the Molly Malone Basin and the Mizzen Basin off the south coast.

Fastnet's main areas of interest are off the south coast of Ireland and in Africa.

The group raised €12.4m on its debut share trading session on Dublin's ESM market for small and mid-cap companies.