REG - Predator O&G Hldgs - February oil sales and strengthening oil price

Predator Oil & Gas HoldingsAnnouncement

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RNS Number : 5763X  Predator Oil & Gas Holdings PLC  23 March 2026

FOR IMMEDIATE RELEASE

 

23 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")

 

                                    February
oil sales and strengthening oil price

 

Highlights

 

·    Cumulative gross oil sales for February US$337,071

 

·    Forecast March oil sales price expected to be 25 to 35% higher

 

·    BON-20 logged over three separate oil zones

 

·    Well interventions and increased swabbing frequency to enhance
production

 

·    Aggressive back-to-back drilling programme being evaluated 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 gross sales
revenues from production for the month of February from its four oil fields
onshore Trinidad.

 

            Field               Barrels sold                US$/barrel                  Total US$ gross revenue
 Goudron                              4360                                                            197,378
 Inniss-Trinity                       3912                                                               95,377
 Icacos                                  277                                                             16,679
 Bonasse¹                                459                                                             27,637
 CUMULATIVE                          9,008                         60.213                             337,071

 

¹ Out of 1,077 barrels produced during February - balance to storage

 

During February two new development wells, BON-18 and 19, have been drilled
and completed in the Bonasse field and are online and producing.

 

Six offline wells in the Inniss-Trinity and Goudron fields have been brought
back on production.

 

Forward plan

 

The new infield development well BON-20 has been logged and completed for
perforating in several zones.

 

6 well workovers are planned in the Inniss-Trinity and Goudron fields.

 

A schedule for increasing the frequency of swabbing cycles and the number of
wells being swabbed has been put in place.

 

Jacobin-1 will be added to the swabbing programme as soon as the scheduling of
a workover rig permits.

 

New development well locations for the Bonasse field are being evaluated to
support a back-to-back drilling programme to maximise rig use whilst mobilised
on site.

 

Scheduling of the SC-3 Snowcap appraisal/development well is progressing as
previously guided.

 

The current strengthening of oil price on the global markets is expected to
see the February sales oil price for March increase by 25 to 35%, if current
pricing trends persist in the short term.

 

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

 

 "We continue to focus on development drilling activity in Trinidad and
enhancing production to capture increased sales revenues during the current
spike in oil prices. Increased sales revenues and profits allows us to bring
forward the utilisation of legacy tax losses to reduce our Petroleum Profit
Tax  to an effective rate of 12.5% ."

 

 

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

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.

 

 

Enquiries:

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

 Paul Griffiths                Chief Executive Officer                            info@predatoroilandgas.com (mailto:info@predatoroilandgas.com)

 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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