Fastnet raises £15m for Moroccan exploration

FASTNET Oil and Gas, the AIM-listed oil and gas exploration company,
has raised nearly £15m in a shares placing  to fund a drilling programme in Morocco.

The company, which following the reverse takeover in May of Sterling Green by Irish firm Terra Energy , has its registered office in Stockport, raised £14,9m before expenses through an over-subscribed placing of 68 million new ordinary shares with new and existing investors at 22p per share.

The money will enable Fastnet to accelerate drilling activit... For the full story register now for free or login below...