REG - Predator O&G Hldgs - Issuance of Share Options

Predator Oil & Gas HoldingsAnnouncement

29/03/2023 07:15

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RNS Number : 5372U  Predator Oil & Gas Holdings PLC  29 March 2023

FOR IMMEDIATE RELEASE

29 March 2023

 

               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")

 

 

                      Issuance of Share Options

 

Predator, the Jersey-based Oil and Gas Company with operations in Trinidad,
Morocco and Ireland, advises of the issuance of the following options over new
Ordinary Shares:

 

Issuance of Options to Moyra Scott - Drilling Manager Morocco

The Board's Remuneration Committee has resolved to make the following award of
unallocated share options under the Company's existing option scheme following
her appointment as a director of the Group's subsidiary company Predator Gas
Ventures Ltd.:

 

To  Moyra Scott (Non-executive Director):

-     Award of 3,000,000 Options

 

Options issued on 27 March 2023 to Moyra Scott are exercisable at 10.0 pence
per share and will vest after 6 months or upon the release of a Company RNS
with the MOU-3 wireline log results - whichever occurs first.

 

Background

Moyra Scott has an MSc in Petroleum Geology from Heriot Watt University
Edinburgh with 32 years of experience in the oil industry. She is a highly
experienced Senior Drilling Engineer and Well Delivery Project Manager in
Europe and Africa. Previously she has worked with BP, Tullow Oil and Lundin
Petroleum amongst others.

From 2021 Moyra has been responsible for executing two drilling programmes for
the Company in the Guercif Licence onshore Morocco and is currently planning
the next phases of drilling for 2023.

Moyra is expected to lead the Company's operational well planning for Trinidad
too subject to the Company receiving regulatory consent for its acquisition of
TRex Holdings Trinidad Ltd., who hold an 83.8% interest in and is operator of
the undeveloped Cory Moruga Licence containing not only the Snowcap-1 oil
discovery but also a historical legacy of three other wells that have
encountered oil.

 

Total Options and Warrants on issue

Following the issuances of the options announced herein, the total options and
warrants outstanding in the Company are as follows:

 

                                                    OPTIONS¹             WARRANTS²               OPTIONS³               OPTIONS⁴

                                               27 October 2020                               31 January 2022           5 July 2022
 Directors                                                                      Nil                                    2,000,000
 Previous director                                  2,650,000                   Nil              1,000,000             2,000,000
 Advisers                                                 Nil              5,209,768                Nil                    Nil

 and directors of Group subsidiary companies

 

                                                         OPTIONS⁵                    OPTIONS⁶               OPTIONS

                                                   9 November 2022                                       27 March 2023
 Directors                                              17,000,000                   15,710,972                  Nil
 Previous director                                          Nil                                                  Nil
 Advisers                                                   Nil                                               3,000,000

 and directors of Group subsidiary companies

 

(1)    27/10/20 options are exercisable at 5 pence per share

(2)    Warrants  include outstanding warrants issued to Company advisers
at

  an exercise price of10.5 pence per share (1,020,000 on 12 March 2021), 15
 

  pence per share (600,000 on 18 June 2021), 9 pence per share (690,000 on
 

  28 March 2022), 5.5 pence per share (1,800,000 on 23 August 2022) and 8

  pence per share (1,099,768 on 23 November 2023).

 

(3)   1,000,000 options are exercisable at   5.66 pence per share.

(4)   4,000,000 options are exercisable at   8.125 pence per share.

(5) 15,000,000 options are exercisable at 10 pence per share

       2,000,000 options are exercisable at   7.75 pence per share

(6) 15,710,972 options are exercisable at   8.0 pence per share

 

If all options and warrants were to become exercisable and then exercised in
accordance with their terms, gross proceeds received by the Company would
be £4,172,219.

 

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

"Moyra is an invaluable member of the Company's small but extremely active and
motivated operational team. Today's award of share options not only recognises
her contributions to the Company to date but also sends a clear message that
we will continue to do whatever it takes to deliver success through drilling
in Morocco and sustain an active work programme to deliver and execute
projects whatever the logistical challenges that exist in the current
unsettled global environment.

We are also planning for activity in Trinidad being re-established in the
medium term. Our shareholders should know us well enough by now to realise
that our small management team only deploys its limited and carefully managed
resources on projects where attractive risk versus reward metrics more than
justify the investment outlay."

 

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

 

Follow the Company on twitter @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               Executive Chairman                 Info@predatoroilandgas.com (mailto:Info@predatoroilandgas.com)

 Lonny Baumgardner   Managing Director

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

 David Coffman / Jon Belliss

 Optiva Securities Limited                                       Tel: +44 (0) 203 137 1902

 Christian Dennis, CEO

 Ben Maitland, Corporate Finance                                 Tel. +44 (0) 203 034 2707

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

 Tim Thompson                                                    predator@flagstaffcomms.com (mailto:predator@flagstaffcomms.com)

 Mark Edwards

 Fergus Mellon

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary gas in prospects less than 10 kilometres from the
Maghreb gas pipeline and suitable for the development of Compressed Natural
Gas for Morocco's industrial sector.  The MOU-1 well has been completed and
is subject to a follow-up testing programme. The MOU-2 well is currently
suspended pending a potential re-entry.

 

Predator is seeking to further develop the remaining oil reserves of
Trinidad's mature onshore oil fields through the application of CO2 EOR
techniques and by sequestrating anthropogenic carbon dioxide in oil
reservoirs.

 

In addition, Predator also 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.

 

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.

 

The Company has a highly experienced management team with a proven track
record in operations in the oil and gas industry.

 

 

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