REG - Predator O&G Hldgs - Placing to Raise £4.5 Million

Predator Oil & Gas HoldingsAnnouncement

Tue 07:00

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RNS Number : 5129P  Predator Oil & Gas Holdings PLC  20 January 2026

FOR IMMEDIATE RELEASE

 

20 January 2026

 

                          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 £4.5
million

 

Highlights

 

·    Snowcap-3 will evaluate 600-foot gross reservoir interval

 

·    Only 6 feet of which was tested in Snowcap-1 at initial rates of 1100
to 1450 bopd

 

·    Potential to greatly accelerate production growth

 

·    Current production up 26% to 387 bopd

 

·    TPD CD1 well in Bonasse to 1800 feet to commence shortly

 

·    Monetisation of Moroccan asset progressing as planned

 

·    Re-emergence of Trinidad and Venezuela as a hydrocarbon province for
oil majors

 

·    Well-placed as one of the few London listed companies with exposure
to the region

 

 

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas
Company with producing hydrocarbon operations focussed on Trinidad and
Morocco, announce that it has conditionally placed 128,571,419 million new
ordinary shares of no par value in the Company (the "Placing Shares") at a
placing price of 3.5 pence each (the "Placing Price") to raise £4.5
million (before expenses) (the "Placing"). The placing was completed by Albr
Capital Limited and Oak Securities, acting jointly.

The Placing utilises some of the Company's existing ability to issue shares
under the Financial Conduct's Authority Public Offers and Admissions to
Trading Regulations.

 

Use of Proceeds

The Proceeds of the Placing, less expenses, will be spent on:

 

1.   Drilling and testing Snowcap-3 ("SC-3") appraisal and development well
, operated solely by the Company, will evaluate  the gross 600-foot Herrea
reservoir interval that contains 8 very good quality reservoirs that produced
in the former BP Moruga West field x kms to the SE.

 

Snowcap-1, drilled and tested in 2010/11, tested the topmost sand (#8 Sand).
The 6-foot sand flowed at initial rates of 1100 to 1450 bopd before
stabilising at a rate of 500 bopd.

 

In the Snowcap-1 well the primary basal Herrera #1 and #2 sands were missed
due to being faulted out.

 

SC-3 location has been selected to penetrate an unfaulted section with good
potential for a thickened #1 Sand.

 

The well is scheduled for Q2 2026 and is expected to take up to 20 days to
drill and log to a depth of approximately 5300 feet.

 

It is intended to put the well in production in Q3 2026 after drilling and
testing completes.

 

SC-3 will potentially unlock the 3P resources for the Herra #1, #2# 3 and #4
Sands of 56.9MM barrels of oil.

 

The impact on the Company's forecast production for 2026 has the potential to
be transformational.

 

Production from the Company's existing fields has accreted steadily over 2
months by approximately 26% to 387 bopd following the completion of two
shallow development wells and 3 heavy well workovers under our Master Services
Agreement with NABI. NABI will commence this month drilling the deeper TPD-CD1
to 1800 feet in the Bonasse field.

 

2.   Progress joint venture partnering for the Guercif gas asset to agree
principles for funding the drilling and testing of the MOU-6 well and a Phase
1 gas development contingent on the application in 2026 for an Exploitation
Concession.

 

Separately complete an Independent Technical and Resources Report for the 81
km2 TGB-6 fan penetrated by MOU-3 and prepare to farmout.

 

 

 

 

 

 

 

 

 

                                               USE
 OF PROCEEDS
                                                                               Budgeted estimated costs (£)
                     Onshore Trinidad

 1.   Site preparation and permitting                                                            50,000

 2.   Drill, perforate and flow test Snowcap-3                                              3,000,000

 3.   Spare back-up well inventory                                                             100,000

 4.   Construct production facilities                                                          500,000

 Separator, tanks, water treatment,

 vacuum truck

           Onshore Morocco

 5.   Partnership negotiations and legal                                                         40,000

 agreements for JV partnering

 Draft application for Exploitation Concession                                                      60,000

                        Administrative

 6.   General discretionary working capital and administrative  expenses                       300,000

 7.   Review and due diligence on new acquisition targets in Trinidad and
 surrounding areas

                                                                                             150,000

             TOTAL COSTS                                                                      4,200,000

 

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 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. on or
around 23 January 2026.

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

9,000,000 million Broker warrants are being issued exercisable at 3.5p. The
Warrants have an expiry date of three years from the date of Admission.

Total Voting Rights

Following Admission, the Company has 814,857,814 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
814,857,814. This figure of 814,857,814 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:

"Trinidad is a re-emerging oil and gas province for the oil majors again
fuelled by successes offshore Guyana and the new strategic importance of
nearby Venezuela. We intend to increase further our visibility in Trinidad
through advancing the drilling of SC-3.

 

We have taken this opportunity to raise funds in order to undertake additional
discretionary activity, strengthening the balance sheet, and enhancing
production growth. Furthermore, demonstrating our operational experience and
know-how gives us greater leverage to attract oil majors into our assets at
some point. The offshore Guyana petroleum system extends into our licences.
The TGB-6 fan in Morocco is geologically similar to the large biogenic gas
fields of the East Mediterranean. Demonstrating materiality will be an
important consideration for any potential farminee but recent geo-political
developments have enhanced the potential for M & A consolidation".

 

 

 

 

 

 

 

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

 OAK Securities

 Jerry Keen / Calvin Mann
                                                                        Tel: +44 (0) 20 3973 3678

 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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