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Paul Griffiths

Paul Griffiths

CEO, Fastnet Oil & Gas

Paul Griffiths is an Associate of the Royal School of Mines, graduating from Imperial College with a Geology Degree in 1976. Paul has 39 years’ experience in the oil business, principally as an early stage prospector. From 1976 Paul was based in Libya to carry out research at Imperial College into applying Vail’s global sea level curves to establish the Mesozoic/Tertiary seismic sequence stratigraphy of NE Libya. Subsequently he worked for the Libyan Nation Oil Corporation as Ghadames Basin Area Geologist and in the offshore Joint Ventures Department.

In 1980 he joined Gulf Oil as research geophysicist in Pittsburgh but quickly moved to exploration operations based in London and Norway. In 1983 he located the Helvick oil discovery offshore Ireland, which flowed 10,000 bopd.

In 1984 Paul left Gulf to consult, working first with Merlin Energy to lay out Ireland’s largest ever speculative seismic survey in 1984. Paul then consulted on oil and gas exploration projects in Europe, Abu Dhabi, Colombia and Azerbaijan.

From 2004 he focussed on public markets (AIM) specialising in building portfolios and listing small cap, entrepreneurial companies. As CEO of Island Oil and Gas, he built a portfolio of international assets which were acquired by San Leon Energy in 2010. Later Paul was MD of Fastnet Oil and Gas where he built another portfolio of assets before selling his stake in 2015 at a 70% premium to market price.

At Island he drilled, as operator, the only successful exploration well offshore Celtic Sea in the last 25 years; proved up four gas fields; and advanced the Dutch Amstel Field to an approved POD stage before selling – GDF subsequently bringing the field on-stream in 2014 at 15,000 bond.

In Fastnet he developed assets and partnerships with BP and Kosmos Energy, leading to the drilling of FA-1 in 2014 in the Agadir Basin, a non-commercial oil discovery, and also PETRONAS in Ireland.

During the last 12 years Paul has been involved in raising USD 120+ mm on AIM; generating USD 80+ mm through trade sales; and creating farmout value of USD 50+ mm. The total Enterprise Value of these deals exceed USD 250 mm.

Currently Paul’s company Predator is focussed on acquiring distressed producing assets in Trinidad and Ireland and in developing, subject to the lifting of sanctions, new oil and gas opportunities for the entrepreneur in Iran.