Fastnet Oil & Gas Live Discussion

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alphabravo321 13 Aug 2015

From Sea7non ADVFN....raglans presentation for horizon medical tech ipo Q3/4 2015. Extract.. Raglan Capital, as promoters, would like to present an exciting pre-IPO medical technology company, which we plan to IPO on the London stock exchange in Q3/Q4 2015. [link] Could we be looking at this?

alphabravo321 12 Aug 2015

Here here highlander...

highlander1970 12 Aug 2015

Interesting turn of events Looks like something is on the table already and the market seems to like it so far.Will be interesting to see what comes of these opportunitiesI was intrigued to read this part of the RNS" Dividends may be declared at some future date depending on the financial position of the Company and the availability of distributable accounting profits."I think a deal in principle has already been done somewhere with someone who needs an urgent cash injection to get things up and running with a highly profitable product as that seems to be a bit of an odd statement to be putting in at this stage of a fundamental restructure of the business model.Anyhoo...still holding albeit slightly underwater for the moment but I have never been invested in a biopharma before, let's hop it really is more lucrative than the oil stocks are currently.GLAH

ookyfly 12 Aug 2015

Re: : Another Dodo The usual tired and crass vulgarities from Highlander. You need a new vocabulary, m8, with a little more imagination.

ookyfly 12 Aug 2015

Re: Pro active Well, there's a turn up for the books!

White stick Investments 12 Aug 2015

Pro active Welcome pro active news!So much for the T5 guess. T5 may have to think about their proposed Q4 float in this climate.Reassuring that there is healthily more cash than the share price. A possible further boost from Celtic licences/seismic???Interesting days ahead. Regards. P

Highlander 11 Aug 2015

Re: : Another Dodo for attention of commercia or should I say R. Sole . Similar to Juan Kerrs, Hub. and onedb1

Highlander 11 Aug 2015

Re: Another Dodo Commercia far cough do you think I'm interested in what a clown has to say

commercia 11 Aug 2015

Re: Another Dodo you couldnt have timed your dodo advice better highlander. I suppose cathal bought them near 4p the other week because they are a dodoIm am holding mine at 2p and will wait for allot more.. hopefully 50% more at least

coldascheese 11 Aug 2015

Re: RNS Seems a very sensible move to me. Should now move up to nearer cash value.

in-vester 11 Aug 2015

wow Looks good to me.

in-vester 11 Aug 2015

RNS Fastnet Oil & GasProposed adoption of Investing Policy/Notice of GMRNS Number : 7549VFastnet Oil & Gas PLC11 August 2015 11 August 2015 Fastnet Oil & Gas plc("Fastnet" or the "Company" Fundamental change of business, proposed new Investing Policy, proposed name change and Notice of General Meeting IntroductionFastnet (AIM: FAST, ESM: FOI), announces its intention to undertake a fundamental change in its business pursuant to the AIM Rules and ESM Rules, adopt the Investing Policy and change its name to Fastnet Equity plc (together the "Proposals". The Proposals are conditional upon Shareholders approving the Investing Policy at the General Meeting. Fastnet's existing oil and gas assetsThe Group currently retains oil and gas exploration assets in offshore Morocco, consisting of the Foum Assaka Licence, and offshore Ireland consisting of the Celtic Sea Assets, which is a portfolio of licensing options. The Group's assets are split by geography into two separate subsidiaries being Pathfinder Hydrocarbon Ventures Limited, in respect of the Foum Assaka Licence offshore Morocco, and Fastnet Oil and Gas (Ireland) Limited in respect of the Celtic Sea Assets. Background to the ProposalsThe Company was admitted to trading on AIM and the ESM and simultaneously raised £10.0 million in June 2012 with the strategy of identifying early stage exploration opportunities in the Celtic Sea and in Africa. Within a year of being admitted to trading, the Group had established a portfolio of interests in potentially high impact exploration prospects in both onshore and offshore Morocco and offshore Ireland.In June 2013, Fastnet completed what was at the time the largest ever 3D seismic programme in the Celtic Sea covering 1,910km2 over two option areas, creating the only modern 3D seismic database in the Company's area of interest. In December 2013, Fastnet successfully executed a farm-out of half of its interest in the Foum Assaka Licence, offshore Morocco, to SK Innovation incorporating re-imbursement of back costs, and a US$100 million capped carry on an exploration well which was drilled in April 2014. The SK Innovation farm-out agreement also provided for a carry of Fastnet's working interest in an additional well, provided it was an appraisal well. If an appraisal well was not drilled, the SK Innovation agreement provided for a carry on a future exploration well at SK Innovation's sole discretion. As a result the total cost to Fastnet from acquisition of the Foum Assaka Licence to completion of the FA-1 exploration well, in April 2014, was restricted to US$2.75 million. The FA-1 exploration well drilled was not a commercial success and, accordingly, a subsequent appraisal well was not warranted. Therefore the future carry for Fastnet on the Foum Assaka licence is subject to SK Innovation's election to participate in a second exploration well, which the Board currently considers is unlikely.As part of the Company's growth strategy, it accelerated progress in relation to its exclusive option (the "Option" to farm into the eight exploration permits comprising the Tendrara Lakbir Petroleum Agreement (the "Tendrara-Lakbir Licence", the commercial terms of which were improved and extended in July 2014.In conjunction with the ongoing technical work in Ireland and Morocco, the Company continued in its significant and extensive efforts to farm-out the Group's Celtic Sea Assets and to secure a partner to share drilling costs on the Tendrara-Lakbir Licence.However the overall worldwide decline in oil prices, which commenced in Q3 2014, has had a materially adverse impact on economic conditions within the oil and gas sector. In particular, it has resulted in a strategic shift in the forward planning of many large oil and gas companies which, the Board believes, has resulted in the delay of decisions and/or changes in strategy regarding farm-in opportunities for ex

alphabravo321 11 Aug 2015

If thats the case Highlander it begs the question why did CF spend so much money buying at 4p?

Highlander 11 Aug 2015

Another Dodo soon to become extinct, won't be around for much longer.

highlander1970 24 Jul 2015

Ocean Guardian heading round the bottom of Ireland at the moment[link]

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