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Appointment of Carol Law as Executive Director of Fastnet

Source: 10/30/2012, Location: Europe

Fastnet Oil and Gas plc, the newly listed E&P company focussed on near term exploration acreage in the Celtic Sea and Africa, is pleased to announce the appointment of Carol Law to the Board as an Executive Director, with immediate effect.

Carol is a geologist by training and has over 28 years' experience in the petroleum industry. In that time, she has been active in exploration management, exploration geology, research, and consulting in a variety of geological settings worldwide, having been involved in exploration activities in more than 40 countries. During her career, Carol has been a member of teams responsible for discoveries in Mozambique (Rovuma Gas), Ghana (Jubilee), Brazil (multiple Campos Basin discoveries), Alaska (Nikaitchuq), China (Bohai Bay) plus Angola, the Gulf of Mexico and others. Most recently Carol wasExploration Manager - East Africa & Caribbean for Anadarko Petroleum Corporation and was responsible for the team that discovered the Prosperidade gas complex in Rovuma Area 1, offshore Mozambique.

In addition, Carol was a member of the technical team and later Exploration Manager - West Africa, China, and Alaska for Kerr McGee Oil & Gas. Technical and managerial responsibility amongst her portfolio included offshore Morocco, including what is now the Foum Assaka block held by Fastnet and Kosmos Energy. Carol's Kerr McGee experience also included working in partnership with Kosmos Energy in offshore southern Morocco, Benin, and Ghana.

Carol will retain outside interests but, as an Executive Director of Fastnet, a significant portion of her time will be spent working with the Fastnet senior management team to develop and execute an oil and gas strategy focused on near term growth. She will also work with the technical teams and partners, de-risking and high-grading existing opportunities to create shareholder value. As Carol is based in Houston, Texas, she will provide Fastnet excellent access to the global oil and gas sector and, in addition, her proximity to Dallas based Kosmos Energy (Fastnet's partner in Morocco) will enable her to work closely with their Morocco team to progress that opportunity.

Michael Nolan non-executive director of Fastnet and Finance Director of Cove Energy plc, commented:
"At Cove, we worked very closely with Carol for over three years, starting with the hugely successful rank wildcat drilling campaign in the Rovuma Area 1 partnership in 2009, which has delivered the enormous gas resources in Mozambique. She is due enormous credit for her commitment to and belief in this project and her role in this world class discovery was very significant. I have great confidence in her ability to be a great addition to the Fastnet team."

Cathal Friel, Non-Executive Chairman of Fastnet commented:
"We are delighted to welcome Carol to the Fastnet senior management team; with her exploration track record offshore Africa and her working knowledge of the Foum Assaka block in Morocco, Carol's experience will be of vital importance as we seek to mature the Moroccan acreage towards exploratory drilling.

"Beyond this, Carol's contact base and reputation will enhance the Company's ability to secure new exploration prospects, in line with our stated strategy at the time of our IPO, of exposing shareholders to near term, high impact exploration opportunities."

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