REG - Predator O&G Hldgs - Exercise of Broker Warrants

Predator Oil & Gas HoldingsAnnouncement

26/06/2024 07:00

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RNS Number : 8537T  Predator Oil & Gas Holdings PLC  26 June 2024

FOR IMMEDIATE RELEASE

26 June 2024

 

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

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries the "Group")

 

Exercise of Broker Warrants

 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas
Company with the Jersey based Oil and Gas Company with near-term hydrocarbon
operations focussed on Morocco and Trinidad announces that it has received an
exercise notice from Novum Securities Limited ("Novum") in respect of
5,221,203 warrants issued to it pursuant to warrant agreements with the
Company:

2,890,908 of the warrants are exercisable at 5.5 pence per share;

1,780,412 of the warrants are exercisable at 5.7 pence per share; and

549,883 of the warrants are exercisable at 8.0 pence per share.

The Company has therefore allotted and issued to Novum the total of 5,221,203
new ordinary shares (the "New Shares") following receipt of the aggregate
£304,474.06.

Application is being made for the New Shares to be admitted listing on the
Official List  and to trading on the Main Market of the London Stock
Exchange's which is expected to be on or around 1 July 2024.

The New Shares rank pari passu with the existing ordinary shares of the
Company. Following the issue of the New Shares, the Company's issued ordinary
share capital shall consist of 570,382,865 ordinary shares of no par value.
The figure of 570,382,865 represents the total voting rights in the Company
and should be used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's ("FCA") Disclosure Guidance & Transparency Rules.

For further information visit www.predatoroilandgas.com (about%3Ablank)

 

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 (about%3Ablank) :

 

Enquiries:

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

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

 Lonny Baumgardner    Managing Director

 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)


 Camarco - Financial PR                                                          Tel: +44 (0)20 3757 4980

 Billy Clegg / Owen Roberts / Fergus Young                                       P (mailto:PredatorOilGas@camarco.co.uk) redatorOilGas@camarco.co.uk

                                                                               (mailto:PredatorOilGas@camarco.co.uk)

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary and Jurassic gas.  The current focus of the
exploration and appraisal drilling programme is located less than 10
kilometres from the Maghreb gas pipeline.  The MOU-1 well drilled in 2021 and
the MOU-3 and MOU-4 wells drilled in 2023 have been completed for rigless
testing in early 2024. Near-term focus is on supplying compressed natural gas
("CNG") to the Moroccan industrial market. A Collaboration Agreement for
potential CNG gas sales of up to 50 mm cfgpd has been executed with Afriquia
Gaz. Further drilling activity is anticipated in 2024 to further evaluate the
MOU-4 Jurassic prospect.

 

Predator is seeking in the medium term to apply CO2 EOR techniques onshore
Trinidad which have the advantage of sequestrating anthropogenic carbon
dioxide. The acquisition of T-Rex Resources (Trinidad) Ltd. ("T-Rex") is a
first step to realising this objective. T-Rex holds the Cory Moruga Production
Licence. Cory Moruga is a largely undeveloped near-virgin oil field of similar
potential size to the nearby Moruga West and Inniss-Trinity mature oil fields.
The Cory Moruga Production Licence is a potentially significant asset for the
Company with the capability of generating positive operating profits in the
near-term. Capital required for staged field development can be implemented
potentially utilising operating profits generated from an increasing level of
gross production revenues.

 

Predator owns and operates exploration and appraisal assets in licensing
options offshore Ireland, for which successor authorisations have been applied
for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic
Margin and east of the decommissioned Kinsale gas field in the Celtic Sea. The
applications for successor authorisations remain "under consideration" by the
DECC.

 

Predator has developed a Floating Storage and Regasification Project ("FSRUP")
for the import of LNG and its regassification for Ireland and is also
developing gas storage concepts to address security of gas supply and
volatility in gas prices during times of peak gas demand.

Further progress for the Mag Mell FSRUP will be dependent on government policy
in relation to security of energy supply. A generalised FSRUP concept has now
been recognised by the government as an option for security of energy supply.

 

The Company has a small but highly experienced management team with a proven
track record in successfully executing drilling operations in the oil and gas
sector and in acquiring assets where there is a potential to generate multiple
returns for relatively low and manageable levels of investment.

 

 

 

 

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