UK's Predator Oil gains on rig contract extension
05/02/2024 10:40
** Shares of Predator Oil & Gas Holdings PRDP.L rise as
much as 3.9% to 13.25p
** Oil and gas firm, with near-term operations focused on
Morocco and Trinidad, signs extension to its 2022 rig contract
for use of Star Valley Rig 101
** Jersey, UK-based co says extension to facilitate drilling
of MOU-5 well in Morocco between April 1 and May 31 to evaluate
Jurassic structural closure
** Co says majority of critical drilling items available
from surplus well inventory, potentially reducing costs
** Shares had gained about 9% in 2023
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))