big mistake - what to say...?

Hi - I wonder if you could offer me your advice. I have a wide circle of friends and one of them is a man who is a good 20 yrs older than myself. I always get on really well with him and lately we have been working together quite a bit. I noticed that he was looking at me in that way suggesting that he may have been falling for me. To tell you the truth there were times when I was starting to feel like I was falling for him too. But for various reasons related to our social circle I knew it was best not to have a relationship beyond friends.

Well last night I think I stuffed up - I drank a bit too much - so did he and we got a bit physical - nothing heavy just a kiss and a hug - he admitted he had feelings for me - but then I kissed him again and pulled away and said I had to go. I feel I may have ruined the relationship now and don't know what to say to him. I do care for him greatly but don't want anything more than friendship right now. I don't want him to think I am just some tease either. Any ideas on how to sort this out.....so that I don't hurt him.

Thanks guys.

Just be straight and honest with him. " I drank too much and should not have become physical with you. I want to remain friends....and only friends and I'm sorry if I gave you the wrong impression"

Something like this............