REG - Predator O&G Hldgs - Placing to Raise £1.0 Million

Predator Oil & Gas HoldingsAnnouncement

21/07/2025 12:15

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RNS Number : 9025R  Predator Oil & Gas Holdings PLC  21 July 2025

FOR IMMEDIATE RELEASE

21 July  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")

 

                                  Placing to
raise  £1.0 million

 

 

Highlights

 

·    Placing to substitute cash for shares on Completion of the
acquisition of CEG Plc's business interests and operations onshore Trinidad

 

·    Funds to start EIA and advance design of optimum MOU-3 gas
development facilities based on the Collaboration Agreement with our local
partner

 

·    Accelerate rig maintenance work and upgrade for Snowcap-3 appraisal
well

 

Predator Oil & Gas Holdings Plc (LSE: PRD), a Jersey based Oil and Gas
Company with near-term drilling operations focussed on Morocco and Trinidad,
announce that it has conditionally placed 20 million new ordinary shares of
no par value in the Company (the "Placing Shares") at a placing price of
5 pence each (the "Placing Price") to raise £1.0 million (before
expenses) (the "Placing").

The Placing utlises some of the Company's existing headroom to issue shares
under the  Prospectus Regulation Rules.

 

 

Use of Proceeds

The Proceeds of the Placing, less expenses, will be spent as shown below.

 

 

 

 

                                               USE
 OF PROCEEDS
                          Acquisition                                             Budgeted estimated costs (£)
                     Onshore Trinidad
 1.   Deferred Consideration due on the Completion of the acquisition of
 Challenger Energy Group Plc's business interests and operations onshore

 Trinidad - cash to replace Consideration due in shares                                                450,000

 2.   Rig inspection and maintenance work for Snowcap-3 selected rig and
 negotiate rig contract

                                                                                                       100,000

           Onshore Morocco
 3.   EIA and Front End Engineering Design for gas processing and
 distribution facilities for a potential gas development at MOU-3 well site

                                                                                                     200,000

 4.   Place Purchase Order for the import of large perforating guns for MOU-1

 and MOU-4 rigless testing programmes

                                                                                                       150,000

                       Administrative
 3.   General discretionary working capital and administrative  expenses                               100,000
             TOTAL COSTS                                                                            1,000,000

 

Completion of the Placing

Completion of the Placing is conditional on, inter alia:-

the Placing Shares being admitted to listing on the Equity Shares (transition)
category of the Official List and to trading on the London Stock
Exchange's main market for listed securities ("Admission").

Admission, Settlement and Dealings in the new Placing Shares

Applications will be made to the FCA and to the London Stock Exchange for
Admission in respect of all the Placing Shares proposed to be issued on
completion of the Placing.  It is expected that Admission will become
effective, and that dealings in the Placing Shares are expected to commence
at 8.00 a.m. 28 July 2025.

The rights attaching to the new Placing Shares will be uniform in all respects
and all of the new Placing Shares will rank pari passu, and form a single
class for all purposes with, the existing issued shares of no par value in the
Company.

Warrants

1,600,000 million warrants are being issued exercisable at 5p. The Warrants
have an expiry date of five years from the date of Admission.

Total Voting Rights

Following Admission, the Company has  ordinary shares of no par value in
issue, each with one vote per share (and none of which are held in treasury).
The total number of voting rights in the Company is therefore
686,286,395. This figure of 686,286,395 may be used by shareholders in the
Company as the denominator for calculations to determine if they have a
notifiable interest in the share capital of the Company under the Disclosure
Guidance and Transparency Rules, or if such interest has changed.

 

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

"Completion of the transaction to acquire Challenger Energy Group's business
interests and operations in Trinidad is expected to occur shortly. The Company
is electing to settle the balance of the Consideration due at Completion in
cash rather than through the issue of shares at a time when we are focussed on
our strategically important operations in Morocco.

 

Additional funds will help drive the next stage of our operations in Morocco
focussed on the optimum gas development option under the terms of our
collaboration agreement for gas marketing with our local partner.

 

Additional funds are also being assigned to accelerating the maintenance
overhaul of an in-country rig suitable for drilling the Snowcap-3 Appraisal
well in Trinidad. This option will significantly reduce well costs."

 

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
(https://protect.checkpoint.com/v2/r06/___http:/www.predatoroilandgas.com___.ZXV3Mjpuc25jbGVhcmNhcGl0YWxtYXJrZXRzOmM6bzo2MThjMGVlOGI5ZGRlZWI4N2E0MWJhODhhMmY4YTk1Yzo3OjNjYzI6NThmNGIxNjViN2ZlZjcyOGY5MGI0ZGFlMzU0OTliNGQyYzdiZDMzNDZhNTYwZTUyNDEyZjJmYTkwYWRlMGQzOTpwOlQ6Rg)
:

 

 

 

Enquiries:

 

 

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

 Paul Griffiths - Chief Executive Officer         Info@predatoroilandgas.com (https://irtools.co.uk/36/story/about%3Ablank)

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

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

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

 David Coffman / Jon Belliss

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

 Tim Thompson                                      predator@flagstaffcomms.com (https://irtools.co.uk/36/story/about%3Ablank)

 Mark Edwards

 Fergus Mellon

 

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 an interesting gas project in Morocco with fast pace of
commercialisation and significant upside. The Guercif project is a shallow CNG
biogenic gas development with different traps and  separate identified
reservoirs. The Jurassic Titanosaurus is a shallow thermogenic gas prospect
evaluating 249m of potential gross reservoir thickness in a trap of maximum
closure 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 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.

 

 

 

 

 

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