Result of General Meeting

16 December 2013

Fastnet Oil & Gas plc

("Fastnet" or the "Company")

Result of General Meeting

Further to the announcement on 27 November 2013 in relation to the placing ("Placing") of new ordinary shares ("Placing Shares") in the Company to raise approximately £10.0 million and the despatch of a related shareholder circular, Fastnet (AIM: FAST, ESM: FOI), the listed E&P company focused on near term exploration acreage in Morocco and the Celtic Sea, is pleased to announce that all resolutions proposed at the General Meeting of the Company held earlier today were duly approved.

As a result, the Placing has become unconditional other than in respect of admission of the Placing Shares to trading on AIM. Application has been made for admission to trading on AIM and the ESM of 71,428,578 Placing Shares. Admission of the Placing Shares on AIM and the ESM is expected to become effective at 8.00 a.m. on Tuesday 17 December 2013, following which the total number of voting rights in the capital of the Company will be 345,369,071 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Fastnet under the FCA's Disclosure and Transparency Rules.

Unless otherwise defined herein, defined terms used in this announcement have the meaning given to them in the shareholder circular published on 27 November 2013.

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