Fastnet Oil & Gas Plc (Fastnet), formerly Sterling Green Group Plc, is a non-trading holding company. The Company is an independent oil and gas exploration company focused on identifying early stage exploration and appraisal opportunities in Offshore Ireland and Africa. Its aim is to assemble a portfolio of high impact conventional oil and gas assets that delivers sustainable growth and value for the Company. During the fiscal year ended March 31, 2012, it had two offshore licensing options in the Celtic Sea and an interest in a net profit bonus arrangement relating to the Connemara prospects offshore Ireland. On December 21, 2011, the Company�s subsidiary, Taxdebts Limited was disposed. The Company�s subsidiaries include Sterling Green Limited, which is engaged in Debt management and Sterling Green (Mortgages) Limited, which is engaged in re-mortgaging.