REG - Predator O&G Hldgs - Commencement of Trinidad drilling programme

Predator Oil & Gas HoldingsAnnouncement

Today 07:00

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RNS Number : 8537P  Predator Oil & Gas Holdings PLC  22 January 2026

FOR IMMEDIATE RELEASE

 

22 January 2026

 

 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")

 

Commencement of Trinidad drilling programme

Highlights

 

·    BON-18 commenced in Bonasse Field

 

·    Expected to take two weeks to drill

 

·    Next well BON-19 to prove up BON-14 producing trend

 

·    5 to 7 shallow development wells in Bonasse to follow BON-19

 

·    6 - 8 Heavy Workover programme commencing in Goudron field in
February

 

·    Combined programmes forecasted to add between 300 and 400 bopd

 

·    Ties into existing production facilities and sales arrangements

 

·    Culminates in drilling Snowcap-3

 

·    Recent funding ensures Company retains 100% of substantial flow rate
potential

 

 

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas
Company with producing hydrocarbon operations focussed on Trinidad and
Morocco, announces that drilling operations under the Master Services
Agreement (the "MSA") with NABI Construction ("NABI") commenced in the Bonasse
field on 20 January 2026 with the first well in a multi-well programme, BON-18
(previously designated TPD-CD1).

BON-18 is a redrill of the legacy production well BON-2, which has damaged
casing. This is a deeper well to approximately 1,800 feet which is expected to
take two weeks to drill on current pre-drill forecasting. The primary
objectives are two zones from which good legacy production was achieved.

On completion of BON-18 drilling operations and the tie in of new production
the NABI drilling rig moves on to the exploratory well BON-19. This BON-19
well will be the proof of concept for the very shallow BON-14 ("Saffron")
trend. The Company  anticipates that between 5  and 7 shallow development
wells will be drilled following this trend such that upon completion of this
phase of drilling operations in the Bonasse field  between  200 and 300 bopd
of new production will be added through existing facilities and oil sales
arrangements.

In the Goudron field a 6-8 Heavy Workover Program shall commence by next
month, with the expectation of yielding an additional 100 bopd of new
production through existing facilities and oil sales arrangements.

 

This additional production shall be supplemental to, and contemporaneous with,
with the main Snowcap-3 appraisal and development well programme in the Cory
Moruga Block forecast to commence in Q2 2026.

 

 
 

 
          Commencement of BON-18 drilling operations

Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings
Plc commented:

"We are entering an intense period of operational activity over the next 3
months in Trinidad which at the end of which could potentially double our
current production output.

 

We have chosen the option to fund, operate and drill the Snowcap-3
appraisal/development well on a 100% basis as our wholly owned subsidiary
(T-Rex Resources) is the exclusive Operator of the Cory Moruga block, where we
shall  demonstrate our in-house operational capabilities to ensure we are
well-placed and qualified to acquire any new attractive opportunities that may
or may not become available long-term."

 

 

 

 

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)

 AlbR Capital Limited

 David Coffman / Jon Belliss                                            Tel: +44 (0)207 469 0930

 OAK Securities

 Jerry Keen / Calvin Mann                                               Tel: +44 (0) 20 3973 3678

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

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

 Alison Alfrey

 Fergus Mellon

Notes to Editors:

 

Predator is an oil & gas company with a portfolio of assets including
unique and highly prospective onshore Moroccan gas exposure and production,
appraisal and exploration projects onshore Trinidad.

Morocco offers a potentially faster route to commercialisation of shallow
biogenic gas through a CNG or micro-LNG development. The structure penetrated
by the MOU-1 and MOU-3 wells is currently defined as having the best potential
for an application for an Exploitation Concession in 2026. The Company is
committed to partnering with entities capable of supporting a future
development decision and who have already identified the opportunity as one
warranting the execution of a Collaboration Agreement and a Memorandum of
Understanding. Moroccan gas prices are high, and the fiscal terms are some of
the best in the world. The presence of gas export infrastructure adjacent to
the MOU-1 and MOU-3 structure allows for a scalable gas development after
initial CNG or micro-LNG gas production over time establishes the extent of
connected gas volumes and the capability of reservoirs to deliver at plateau
rates over time.

Trinidad offers the security of a mature onshore oil province that has been
producing hydrocarbons for over 50 years. Predator has assembled a portfolio
of onshore producing fields with opportunities for production enhancement and
additional infill development and appraisal drilling. Significant legacy tax
losses, economies of scale and the application of new low-cost technologies
are factors that can improve profit margins per barrel of oil produced.  A
Master Services Agreement with local operator NABI Construction relieves the
Company of the burden and costs of operating the fields and executing drilling
and heavy well workovers. In return the Company receives 30% of gross sales
revenues for which it can use its acquired tax losses to substantially reduce
Petroleum Profit Tax from 50% to an effective rate of 12.5%.

Predator has an experienced technical, financial and legal management team
with particular knowledge of the Moroccan and Trinidad sub-surface and
operations and an ability to complete M & A transactions in Trinidad and
receive regulatory approvals in a timely manner and without any unnecessary
advisory fees for transactions.  The Company's strategy is to operate at a
much reduced overhead compared to other operators with portfolios of assets of
similar extent to maintain competitiveness.

Predator Oil & Gas Holdings plc is listed on the Equity Shares
(transition) category of the Official List of the London Stock
Exchange's main market for listed securities (symbol: PRD).

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

 

 

 

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