RNS Number : 9025R
Predator Oil & Gas Holdings PLC
21 July 2025
FOR IMMEDIATE RELEASE
21 July 2025
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")
Placing to raise £1.0 million
Highlights
· Placing to substitute cash for shares on Completion of the acquisition of CEG Plc's business interests and operations onshore Trinidad
· Funds to start EIA and advance design of optimum MOU-3 gas development facilities based on the Collaboration Agreement with our local partner
· Accelerate rig maintenance work and upgrade for Snowcap-3 appraisal well
Predator Oil & Gas Holdings Plc (LSE: PRD), a Jersey based Oil and Gas Company with near-term drilling operations focussed on Morocco and Trinidad, announce that it has conditionally placed 20 million new ordinary shares of no par value in the Company (the "Placing Shares") at a placing price of 5 pence each (the "Placing Price") to raise £1.0 million (before expenses) (the "Placing").
The Placing utlises some of the Company's existing headroom to issue shares under the Prospectus Regulation Rules.
Use of Proceeds
The Proceeds of the Placing, less expenses, will be spent as shown below.
USE OF PROCEEDS
Acquisition
Budgeted estimated costs (£)
Onshore Trinidad
1. Deferred Consideration due on the Completion of the acquisition of Challenger Energy Group Plc's business interests and operations onshore Trinidad - cash to replace Consideration due in shares 2. Rig inspection and maintenance work for Snowcap-3 selected rig and negotiate rig contract
450,000 100,000
Onshore Morocco
3. EIA and Front End Engineering Design for gas processing and distribution facilities for a potential gas development at MOU-3 well site 4. Place Purchase Order for the import of large perforating guns for MOU-1 and MOU-4 rigless testing programmes
200,000 150,000
Administrative
3. General discretionary working capital and administrative expenses
100,000
TOTAL COSTS
1,000,000
Completion of the Placing
Completion of the Placing is conditional on, inter alia:-
the Placing Shares being admitted to listing on the Equity Shares (transition) category of the Official List and to trading on the London Stock Exchange's main market for listed securities ("Admission").
Admission, Settlement and Dealings in the new Placing Shares
Applications will be made to the FCA and to the London Stock Exchange for Admission in respect of all the Placing Shares proposed to be issued on completion of the Placing. It is expected that Admission will become effective, and that dealings in the Placing Shares are expected to commence at 8.00 a.m. 28 July 2025.
The rights attaching to the new Placing Shares will be uniform in all respects and all of the new Placing Shares will rank pari passu, and form a single class for all purposes with, the existing issued shares of no par value in the Company.
Warrants
1,600,000 million warrants are being issued exercisable at 5p. The Warrants have an expiry date of five years from the date of Admission.
Total Voting Rights
Following Admission, the Company has ordinary shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 686,286,395. This figure of 686,286,395 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"Completion of the transaction to acquire Challenger Energy Group's business interests and operations in Trinidad is expected to occur shortly. The Company is electing to settle the balance of the Consideration due at Completion in cash rather than through the issue of shares at a time when we are focussed on our strategically important operations in Morocco.
Additional funds will help drive the next stage of our operations in Morocco focussed on the optimum gas development option under the terms of our collaboration agreement for gas marketing with our local partner.
Additional funds are also being assigned to accelerating the maintenance overhaul of an in-country rig suitable for drilling the Snowcap-3 Appraisal well in Trinidad. This option will significantly reduce well costs."
Follow the Company on X @PredatorOilGas.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse.
For more information please visit the Company's website at:
www.predatoroilandgas.com:
Enquiries:
Predator Oil & Gas Holdings Plc Paul Griffiths - Chief Executive Officer
Notes to Editors:
Predator is an oil & gas company with a diversified portfolio of scaled assets including unique and highly prospective onshore Moroccan gas exposure, with multiple fully financed upcoming catalysts.
Predator has an interesting gas project in Morocco with fast pace of commercialisation and significant upside. The Guercif project is a shallow CNG biogenic gas development with different traps and separate identified reservoirs. The Jurassic Titanosaurus is a shallow thermogenic gas prospect evaluating 249m of potential gross reservoir thickness in a trap of maximum closure of 187 km2 for pipeline gas to power, with pipeline 2.5km from wellhead. Moroccan gas prices are high, and the fiscal terms are some of the best in the world. Predator also has a diversified portfolio of assets across Ireland and Trinidad, which is a near-term revenue-generating project.
Predator has an experienced management team with particular knowledge in Moroccan sub surface and operations. The team specialises in incorporating modern, proven technologies and processes from Canada and the US to provinces where the conventional technologies did not allow their hydrocarbon potential to be revealed.
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