Fastnet approaches Morocco double

摘要

Fastnct hopes to complete the farm down of its interest in a block off Morocco within days and has raised cash to drill an onshore well in the middle of next year. The UK minnow has a 25% interest in Kosmos' Foum Assaka offshore block where the Eagle well will be drilled in the first quarter of next year. It is a 360m bbl Lower Cretaceous target in a water depth of 1,970ft (600m). Fastnet is involved in exclusive negotiafions to farm down its holding and earlier this week said it hopes to complele a binding deal "in the next week or two".