REG - Predator O&G Hldgs - End of Year Operations Update

Predator Oil & Gas HoldingsAnnouncement

17/12/2025 07:00

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RNS Number : 8270L  Predator Oil & Gas Holdings PLC  17 December 2025

FOR IMMEDIATE RELEASE

 

17 December 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")

 

 
                                  End of year
operations update

 

Highlights

 

·    27,175 barrels oil produced to date

 

·    Gross revenues US$806,051 to date

 

·    Net Predator revenues averaging US$100,405 per month

 

·    First fully funded infill development well in Trinidad drilled and
tied in

 

·    Fully-funded for up to 12 infill development wells and 14 heavy
workovers in 2026

 

·    Forecast up to 1,000 bopd and 5- to 10-fold increase in monthly
revenues by end 2026

 

·    Final stages of partnership building and financial engineering for
FID for gas appraisal and development

 

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas
Company with producing hydrocarbon operations focussed on Trinidad and
Morocco, is pleased to announce an end of the year operations update.

 

Onshore Trinidad

 

2025 progress

 

·    Cumulative oil production up at 27,175 barrels at 30/11/25  (452
barrels at 01/01/25).

 

·    Cumulative sales oil up at 25,300 barrels at 31/10/25  (0 barrels at
01/01/25).

 

·    Cumulative gross revenues up at US$806,051 at 31/10/25  (US$0 at
01/01/25).

 

·    Cumulative Predator net revenues up at US$200,810 at 31/10/25  (US$0
at 01/01/25).

 

·    Daily oil production up at 308 bopd at 30/11/25 (4 bopd at 01/01/25).

 

1.    Execution of Production and Field Services Management Agreement with
NABI Construction ("NABI").

 

Predator has no exposure to current and future field operating and employee
costs and does not have to provide any working capital for drilling and heavy
well workovers, for the assets operated by NABI.

 

Predator receives 30% of gross sales revenues from existing production less
taxes and royalties  and 15% of new production until recovery of NABI costs,
thereafter 30% of net sales revenues.

 

This provides for more efficient utilisation of legacy tax losses acquired
following restructuring of the companies acquired in 2025.

 

2.    Bonasse field oil sales point established at South Erin field.

 

3.    Two existing Bonasse field wells restored to production and a new
shallow infill development well BON-16 drilled in November and put on
production.

 

4.    Increased Bonasse field production by 220 % since 30 October 2025.

 

5.    Increased production from Goudron, Inniss-Trinity and Icacos fields
by 5% between 1 September and 31 October 2025 through better field management.

 

Focus to date on improving infrastructure and access roads to areas with wells
selected for heavy workovers and sites for infill drilling, and on ordering
well inventory.

 

6.    All fields are now returned to profitability after significant
reductions in licence management and administrative costs through
consolidation.

 

7.    Predator management team can now focus on developing and planning
new, high value opportunities to drill under the  Production and Field
Services Management Agreement and on reviewing any new M & A
opportunities.

 

2026 fully-funded forward programme

 

January

 

BON-17 second infill development well due to commence at the end of 2025 will
be tied into production.

 

First of 13 heavy well workovers in Goudron and Inniss-Trinity fields expected
to commence.

 

February

 

Goudron infill development well expected to commence - targeting up to 200
bopd.

 

March

 

Snowcap-1 re-entry and well workover -  targeting 80 to 200 bopd.

 

April to May

 

Snowcap-3 appraisal well to commence to test 3 reservoirs producing in the
adjacent Moruga

 

West field for over 50 years - targeting stabilized initial production of up
to 400 bopd.

 

Snowcap-1 originally tested 1,100 to 1,450 bopd from the Herrera #8 Sand.

 

May

 

Re-start the Bonasse infill development well programme with up to 10 new
shallow wells.

 

 2026 outlook

 

The programme of infield development drilling, heavy workovers of old
production wells and Cory Moruga appraisal/development drilling is targeting
increasing current production to 1,000 bopd on exiting 2026.

 

Using 2025 actual Predator net revenue receipts this is forecast to generate
between a five to ten fold increase in monthly production revenues depending
on a successful outcome to operations and the prevailing oil price (average
monthly Predator share of sales revenues for September and October 2025
US$100,405).

 

Onshore Morocco

 

2025 progress

 

·    MOU-3 rigless testing of the shallow "A" Sand  verified for the
first time the extent and causes of formation damage linked to the original
drilling programme.

It validated the NuTech interpretation of gas saturations and gas shows seen
whilst drilling before mud weight was increased to shut off gas inflow into
the well.

It provided the data necessary to ensure that appraisal/development wells can
be programmed to mitigate against formation damage to enure maximum possible
stabilised gas flow rates from the NuTech-interpreted gas reservoirs.

·    Focus for initial appraisal and potential development  is confined
to the section above 950 metres in MOU-3 in the structure penetrated by MOU-1
and MOU-3.

 

On this basis discussions with two parties are ongoing on the basis of a
fully-funded CNG and/or micro-LNG development.

 

·    A request with agreed terms for an Amendment No.5 to extend the First
Extension Period of the Guercif Petroleum Agreement from 5 March 2026 to 5
November 2026 has been submitted.

This will allow time for a programme of work to be completed to potentially
support an application for an Exploitation Concession in 2026.

·    MOU-5 was successfully drilled to 1,137 metres and logged using
improved drilling practices deployed by the Company's new drilling team to
significantly minimise over-balanced drilling.

 

MOU-5 was drilled under budget.

 

A helium show was encountered that supported the pre-drill helium generation
and migration concept.

 

Mobilised Triassic salt from a depth below the well was unexpectedly
penetrated.

 

MOU-5 is a potentially play-opening well for a deeper Triassic TAGI reservoir
target that is expected to have good reservoir properties based on a 100-foot
Jurassic sand encountered at the base of MOU-5.

 

 2026 forward programme

 

January/February

 

An updated Independent Technical Resources report ,which will take into
consideration the studies completed in 2025, is likely to uplift gas resources
for the MOU-1 and MOU-3 structure.

Validation of the NuTech interpretation of gas saturations is also likely to
significantly increase potential for prospective gas resources beyond the
limits of the MOU-1 and MOU-3 structure in the interval down to 950 metres.

A fully-funded Environmental Impact Assessment will be commenced for a
CNG/micro-LNG development together with a preliminary Front End Engineering
Design concept.

Desktop well design and drilling programme will be finalised for an
appraisal/development well.

The purpose of the fully-funded desktop work during this period is to ensure
that the Company and its shareholders get the best possible mutually
acceptable terms in commercial negotiations to monetise the discovered gas
with the existing entities agreeing to join the Company in a potential FID and
development programme.

A successful application for an Exploitation Concession in 2026 will
crystalise the considerable value currently assigned to the discovered gas in
Guercif licence area.

2026 Outlook

The Company is fully committed to partnering up for potential appraisal and
scalable development of its discovered gas in the MOU-1 and MOU-3 structure.

Subject to a final agreement that incorporates a funding mechanism for an
appraisal and development programme the Company will pursue its schedule to
complete the work necessary for an application for an Exploitation Concession
by the end of Q3 2026.

 

Offshore Ireland

 

The Company notes that Ireland has recognised security of gas supply and gas
storage as a critically important issue by announcing the proposed State-owned
FSRU concept as a future strategic national gas reserve.

 

The Company believes that the concept, which includes a jetty and an onshore
pipeline and terminal, will only only be realised after several years based on
the historical Corrib gas terminal planning and environmental experience.

 

Far more practical, and likely to be delivered in a shorter timeframe, is an
offshore FSRU facility linked to a subsurface storage reservoir in one of the
very few remaining oil and gas licences offshore Ireland.

 

This could be a public/private sector joint facility combining a strategic gas
storage reserve with a commercial business to minimise or eliminate the cost
to the consumer so as not to further exacerbate the cost of living crisis,
which is linked to energy affordability all-year-round.

 

The Company intends to make an application in early 2026 to the Department of
Climate, Energy and the Environment under Ireland's Freedom of Information Act
to compile all internal documents relating to the award of the Corrib South
successor authorisation.

 

The results should be interesting and revealing of the protracted procedural
process that has been drawn out for over 7 years, contrary to any reasonable
industry expectations of acting in good faith.

 

 

Paul Griffiths, Chief Executive Officer of Predator, commented:

"By the end of 2025 we have eliminated our exposure to field operating costs
and the requirement for capital to grow our production and revenues in
Trinidad and returned our acquired assets to making an operating profit
through astute restructuring of local companies and application of legacy tax
losses.

 

The fully-funded programme to significantly increase production has commenced
already and will accelerate through the first half of 2026, with up to 12 new
wells and 14 heavy workovers currently scheduled.

 

Senior management is freed up from administrative burdens to focus on
generating new high-value drilling opportunities in the Trinidad acreage.

 

In Morocco we have reached a position after the 2025 work programme where we
can now leverage our position in discovered gas to secure a partnership for
funding for an appraisal and potential development programme.

 

The oil and gas sector outside of Europe, where the Company prefers to
operate, is showing a marked pick-up in exploration and development and M
& A activity. This is in marked contrast to most of western Europe and the
UK, which is suffering from a security of energy supply issue and cost of
living crisis due to lack of investment in developing indigenous gas. We have
no such investment constraints in the jurisdictions we operate in, where
hydrocarbons, especially gas, are viewed as key ingredients to a much
longer-term and more credible, less economically painful, energy transition
process.

 

We thank our shareholders for their support during a year that has seen
extremely challenging public market conditions for the oil and gas sector in
general. We look forward to 2026 turning sentiment around."

 

 

 

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                                                   Tel: +44 (0)207 469 0930

 David Coffman / Jon Belliss

 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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