REG - Predator O&G Hldgs - Technical Report for Cory Moruga onshore Trinidad

Predator Oil & Gas HoldingsAnnouncement

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RNS Number : 3926V  Predator Oil & Gas Holdings PLC  05 March 2026

FOR IMMEDIATE RELEASE

 

5 March 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")

 

                     Independent Technical Report ("ITR")
for Cory Moruga onshore Trinidad

 

Highlights

 

·    2P resources of 8.73 MM bls

 

·    Project economics based on US$60/bo

 

·    SC-3 drilling plans proceeding as planned

 

·    BON-20 well programme, objectives and progress as planned

 

·    Programme to increase production coinciding with oil price spike

 

 

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas
Company with hydrocarbon operations focussed on production in Trinidad and
appraisal and near-term development in Morocco, announces that further to the
release of 25 February 2026 in respect of an operations update for Trinidad,
the Company is publishing today (see link below) the Independent Technical
Report ("ITR") by Scorpion Geoscience Ltd. for the proposed Snowcap-3 well
("SC-3") appraisal well in the Cory Moruga Exploration and Production Licence.

 

https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2026/03/PRD_Trinidad_CM_Snowcap3_ITR-05-03-2026.pdf
(https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2026/03/PRD_Trinidad_CM_Snowcap3_ITR-05-03-2026.pdf)

 

Following the management team's site visit to Trinidad last week, initial site
and land registry investigations for two locations for an SC-3 and a potential
follow-up SC-4 well commenced.

 

Star Valley Rig 205 was viewed and assessed at its current site by the
Company's corporate operations manager.

 

The BON-20 drilling programme, objectives and current progress were reviewed.

A further update will be issued after the completion and anticipated testing
of BON-20.

 

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

 

 "We are making good progress on preparations to drill an SC-3 appraisal
well, that in a success case and subject to regulatory approval can be put on
production within a relatively short time framework. The publication of the
ITR, which is based on US$60/bo, is timely given the current spike in oil
prices and the prospect of continuing conflict within a key area contributing
to global hydrocarbon production."

 

 

For further information visit www.predatoroilandgas.com (about%3Ablank)

Follow the Company on X @PredatorOilGas (https://x.com/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%3Ablank) :

 

Enquiries:

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

 Paul Griffiths                                                                  Info@predatoroilandgas.com (about%3Ablank)

 Chief Executive Officer

 AlbR Capital Limited                                                            Tel: +44 (0)207 469 0930

 David Coffman / Jon Belliss

 OAK Securities                                                                  Tel: +44 (0) 20 3973 3678

 Jerry Keen/ Calvin Mann

 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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