REG - Predator O&G Hldgs - Helium potential MOU-5 prospect at Guercif

Predator Oil & Gas HoldingsAnnouncement

30/09/2024 07:00

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RNS Number : 1613G  Predator Oil & Gas Holdings PLC  30 September 2024

FOR IMMEDIATE RELEASE

 

30 September 2024

 

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")

 

Helium potential MOU-5 prospect at Guercif

 

Highlights

 

·    MOU-5 will test effectiveness of a potential He charge and retention.

·    Potential in-place helium of 104.31 to 598.88 BCF

 

·    Fully funded for all commitments

 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas
Company with near-term hydrocarbon operations focussed on Morocco and
Trinidad is pleased to announce the completion of an independent report (the
"Report") on Helium ("He") potential by ScorpionGeoscience Limited.

 

Report Conclusions

 

The potential conventional prospective gross recoverable gas resources for the
primary reservoir target in MOU-5 were previously reported as being 5.916 TCF
(P50 upside case), as announced on 8 August 2024.

 

Potential gross estimates of in-place He for the P50 upside case are 104.31
BCF based on a global averaged scenario of 1.298% He and 598.88 BCF for the
P10 upside case based on a global averaged scenario of 4.066% He.

 

Sources of information

 

The report draws on global analogues from a diverse range of available
published geological settings to investigate the distribution and scale of
naturally occurring He resources and seeks to determine to what extent the
MOU-5 structure in Guercif could potentially yield a commercial He discovery.

 

Examples quoted include the supergiant Hassi R'Mel gas field in Algeria to the
east of Guercif and known to contain helium as a byproduct of methane gas
production; and the Hugoton field complex in central USA.

 

The geological setting of Guercif means it is potentially possible He could be
sourced from crystalline basement (Tanzanian analogue), granitic intrusions
(Corsican analogue), or radiogenic volcaniclastic sediments (Hugoton
analogue).

 

MOU-5 structure

 

The MOU-5 structure has several potential migration pathways (fractures and
faults); potential reservoirs (porous limestones) sealed by impermeable rocks;
and adequate trapping in the form of a large structural closure.

 

MOU-5 will test the effectiveness of a potential He charge and retention.

 

Other considerations

 

Extracting helium from natural gas requires energy to cool the gas therefore
the proportion of He that can potentially be produced from natural gas as a
commercially recoverable product will ultimately be dependent on variables
such as price and technology used.

 

Risking

 

Risking is as previously reported for prospective gas resources on 8 August
2024 and relates almost entirely to hydrocarbon gas carrier presence.

 

Issuance of shares to advisors

 

Several advisers have requested to take shares for services to show their
alignment with the Company's strategy regarding the near-term drilling of
MOU-5 and the assessment of the potential for helium in a large geological
structure based on global settings for the presence of helium including, but
not limited to, the supergiant Hassi R'Mel gas field in Algeria to the east of
Guercif.

 

Accordingly the Company has issued 1,491,889 new ordinary shares ("Shares") at
a price of 0.0925 pence per Share in lieu of adviser fees totalling £138,000.

 

Application is being made for the 1,491,889 Shares to be admitted to the
Official List and to trading on the Main Market of the London Stock Exchange
which is expected to be on or around 3 October 2024. These shares rank pari
passu with the existing ordinary shares of the Company.

 

Following the issue of the 1,491,889 Shares, the Company's issued ordinary
share capital shall consist of 571,874,754 ordinary shares.

 

This figure of 571,874,754 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 Disclosure Guidance & Transparency Rules.

 

Paul Griffiths, Chief Executive Officer of Predator, commented:

"Given the potential size of the MOU-5 structure and its geological setting,
this independent report on He potential enhances the case for the evaluation
of potential helium presence in MOU-5. Although at an early stage of
evaluation the opportunity to assess the ability to  add value to an area
development should not be missed.

 

The Company is delighted to have received an unsolicited proposal from
advisers to take shares as a measure of the understanding and confidence that
exists in the Company's near-term newsflow activity."

 

For further information visit www.predatoroilandgas.com (about:blank)

 

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:blank) :

 

Enquiries:

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

 Paul Griffiths                Chief Executive Officer                                                                                                                                                                                                                                                  Info@predatoroilandgas.com (about:blank)

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

 David Coffman / Jon Belliss

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

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

 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 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 two high quality, scalable gas projects in Morocco with fast pace
of commercialisation and blue sky potential. Guercif is a shallow CNG biogenic
gas development with multiple traps and at least 4 separate reservoirs with
recently drilled wells due to be flow tested. The Giant Jurassic Titanosaurus
is a shallow thermogenic gas prospect evaluating 249m of potential gross
reservoir thickness in a trap 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 and consultants 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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