Fastnet explores gas field in Morocco

Fastnet Oil & Gas yesterday said that it had secured an exclusive option agreement for its subsidiary to explore an area of onshore Morocco, Tendrara Lakbir. The Aim-listed oil and gas explorer has partnered with a local company Oil and Gas Investments Funds (OGIF) for the venture. “The Tendrara licence offers our shareholders an exciting early drilling opportunity to appraise an existing gas discovery,” said Paul Griffiths, managing director of Fastnet. “Fastnet has sourced a rig for the upcoming Tendrara drilling operations. A successful drilling result at Tendrara could be the catalyst to move towards…rapid monetisation of the original gas discovery.”