Ireland becomes Paudi O’Rabia?

Fastnet Oil and Gas, which has promising exploration assets in Morocco and Ireland, held its Dublin shareholders' meeting on Tuesday in the Shelbourne Hotel, following the Aim-listed outfit's agm proper in London the previous day. The company, whose chairman is the corporate financier Cathal Friel, is bullish on its Irish assets. It hopes to do a farm-out deal with a bigger partner soon, as major companies eye cheaper exploration in shallow waters such as the Celtic Sea.

After an introduction by Friel, the meeting was addressed by Fastnet's exceedingly charming English chief financial officer, Will Holland.

“Thanks, Cattle,” he said, still getting to grips with the gymnastics of the local lingo.

Managing director Paul Griffiths is trying to convince the industry that the Celtic Sea can be a drilling success on the scale of east Canada, where the majors are slobbering over the Flemish Pass. "Some in the market think we may not do a farmdown deal [in the Celtic Sea], but I know we can. I hope for one by year-end, but I can't guarantee it," he said.

What's all this? Michael Noonan predicting 4.5 per cent economic growth? Oil and gas off our southern coast? Is this Ireland, or Paudi O'Rabia?

I’m off to buy a Ferrari, if there are any left . . .