Admission of Placing Shares

RNS Number : 4910E

Predator Oil & Gas Holdings PLC

28 February 2020

 

FOR IMMEDIATE RELEASE

 28 February 2020

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")

    Admission of Placing Shares

Further to its announcement on 14 February 2020 of the proposed placing of 89,000,000 new shares of no par value in the Company at 4p per share (the "Placing") to raise £3.56 million (before expenses), Predator Oil & Gas Holdings Plc (LSE: PRD),  the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that the Placing was completed on admission of all the Placing Shares to listing on the UK Listing Authority's Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") which became effective at 8.00 am today.

Directors' participation

The Directors participated in the Placing and subscribed for an aggregate of 937,500 Placing Shares for aggregate £37,500 in cash (at the placing price of 4p per share), further details of which are set out in Part X (The Placing) of the Prospectus.

Total Voting Rights

Following Admission, the Company has  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 197,172,169.  This figure of 197,172,169 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.

Enquiries:

Predator Oil & Gas Holdings plc Paul Griffiths  Chief Executive Officer Carl Kindinger  Non-Executive Chairman	Tel:  [phone]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis	Tel: + 44(0) 207 399 9425 Tel: [phone]

Follow us also on VOX Market https://www.voxmarkets.co.uk/ This announcement contains inside information for the purposes of Article 7   of the Regulation (EU) No 596/2014 on market abuse

Qualified Person's statement:

The information contained in this document has been reviewed and approved by Mr. Paul Griffiths, Chief Executive Officer. Mr Griffiths has a BSc in Geology from Imperial College London and is an Associate of the Royal School of Mines. Mr. Griffiths has over 43 years of relevant experience in the upstream oil industry.

Notes to Editors:

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in a prospect 4 kilometres from the Maghreb gas pipeline, and deeper Triassic gas. A well location has been selected for drilling in Q2 2020 and a rig option agreement has been entered into.

Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves in the producing Inniss Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing the Pilot Enhanced Oil Recovery project using locally sourced carbon dioxide for injection into the oil reservoirs ("C02 EOR"). Near-term expansion and growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field.

In addition, Predator also operates exploration and appraisal assets in licensing options offshore Ireland, for which Successor Authorisations have been applied for, adjoining Shell's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea. Ireland however remains a very challenging regulatory environment for business investment in the oil and gas sector and is not the immediate focus of the Company's near-term operations.

The Company has a highly experienced management team with a proven track record in the oil and gas industry.

 

END

 

 

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