REG - Predator O&G Hldgs - Commencement of Engineering Works at MOU-5 Site

Predator Oil & Gas HoldingsAnnouncement

20/01/2025 07:00

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RNS Number : 8400T  Predator Oil & Gas Holdings PLC  20 January 2025

FOR IMMEDIATE RELEASE

 

20 January 2025

 

                          Predator Oil & Gas
Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

Predator Oil & Gas Holdings Plc

("Predator" or the "Company")

 

 
        Commencement of civil engineering works at MOU-5 drill site

 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas
Company with near-term hydrocarbon operations and production activities
focussed on Morocco and Trinidad is pleased to announce that civil engineering
work, to improve access roads and prepare the MOU-5 well pad, has commenced on
its Guercif licence onshore Morocco at the MOU-5 drill site.

 

Presently it is forecast that MOU-5 drilling operations are on track to
commence on or about 25 February 2025.

 

Paul Griffiths, Chief Executive Officer of Predator, commented:

"We are very pleased to have put together this new fully-funded drilling
campaign efficiently and within budget guidance to allow us to drill MOU-5, as
currently forecast, next month.

The Titanosaurus structure may be potentially transformational to the
Company's already diversified asset base in a success case. It is a rare
opportunity to drill a potentially high-impact structure adjacent to an
existing gas infrastructure in an attractive fiscal regime.

Our hydrocarbon sector has seen a global resurgence of interest and activity
outside of the UK and Europe over the past few months led by the United
States, Norway, Middle East, Africa and Far East.

Dwindling gas storage reserves in Europe this winter and geopolitical concerns
over security of gas supply provides cold comfort for policy makers seeking to
reduce energy costs and promote economic growth.

We are potentially entering a "golden age" for gas exploration and production
to support: the energy transition by lowering CO2 emissions through replacing
coal and oil; and to ameliorate energy price rises by increasing supply and
security of access to gas at "crunch" times, when renewable energy cannot cope
due to unattractive weather conditions.

It is not often that macro geopolitical and economic factors align with a gas
development strategy. We are currently in that cycle and ready to attempt to
take advantage of it."

 

For further information visit www.predatoroilandgas.com
(http://www.predatoroilandgas.com)

 

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 (http://www.predatoroilandgas.com) :

 

Enquiries:

 Predator Oil & Gas Holdings Plc                                        Tel: +44 (0) 1534 834 600

 Paul Griffiths                Chief Executive Officer                  Info@predatoroilandgas.com (about%3Ablank)

 Novum Securities Limited                                               Tel: +44 (0)207 399 9425

 David Coffman / Jon Belliss

 Oak Securities                                                         Tel: +44 (0)203 973 3678

 Jerry Keen                                                             Jerry.keen@oak-securities.com (mailto:Jerry.keen@oak-securities.com)

 Flagstaff Strategic and Investor Communications                        Tel: +44 (0)207 129 1474

 Tim Thompson                                                            predator@flagstaffcomms.com (about%3Ablank)

 Mark Edwards

 Fergus Mellon

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.

 

Predator Oil & Gas Holdings plc is listed on London Stock Exchange's Main
Market with a Standard Listing (symbol: PRD). For further information, visit
www.predatoroilandgas.com (https://www.predatoroilandgas.com/)

 

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