Commencement of Engineering Works at MOU-5 Site

Predator Oil & Gas Holdings PLC

20 January 2025

 

FOR IMMEDIATE RELEASE

20 January 2025

                          Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

Predator Oil & Gas Holdings Plc

("Predator" or the "Company")

                                  Commencement of civil engineering works at MOU-5 drill site

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with near-term hydrocarbon operations and production activities focussed on Morocco and Trinidad is pleased to announce that civil engineering work, to improve access roads and prepare the MOU-5 well pad, has commenced on its Guercif licence onshore Morocco at the MOU-5 drill site.

Presently it is forecast that MOU-5 drilling operations are on track to commence on or about 25 February 2025.

Paul Griffiths, Chief Executive Officer of Predator, commented:

"We are very pleased to have put together this new fully-funded drilling campaign efficiently and within budget guidance to allow us to drill MOU-5, as currently forecast, next month.

The Titanosaurus structure may be potentially transformational to the Company's already diversified asset base in a success case. It is a rare opportunity to drill a potentially high-impact structure adjacent to an existing gas infrastructure in an attractive fiscal regime.

Our hydrocarbon sector has seen a global resurgence of interest and activity outside of the UK and Europe over the past few months led by the United States, Norway, Middle East, Africa and Far East.

Dwindling gas storage reserves in Europe this winter and geopolitical concerns over security of gas supply provides cold comfort for policy makers seeking to reduce energy costs and promote economic growth.

We are potentially entering a "golden age" for gas exploration and production to support: the energy transition by lowering CO2 emissions through replacing coal and oil; and to ameliorate energy price rises by increasing supply and security of access to gas at "crunch" times, when renewable energy cannot cope due to unattractive weather conditions.

It is not often that macro geopolitical and economic factors align with a gas development strategy. We are currently in that cycle and ready to attempt to take advantage of it."

For further information visit 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: 

Enquiries:

Predator Oil & Gas Holdings Plc Paul Griffiths                Chief Executive Officer	Tel: [phone] [e-mail]
Novum Securities Limited David Coffman / Jon Belliss Oak Securities Jerry Keen	Tel: [phone] Tel: [phone] [e-mail]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone]  [e-mail]

Notes to Editors:   

Predator is an oil & gas company with a diversified portfolio of scaled assets including unique and highly prospective onshore Moroccan gas exposure, with multiple fully financed upcoming catalysts.

Predator has an interesting gas project in Morocco with fast pace of commercialisation and significant upside. The Guercif project is a shallow CNG biogenic gas development with different traps and  separate identified reservoirs. The Jurassic Titanosaurus is a shallow thermogenic gas prospect evaluating 249m of potential gross reservoir thickness in a trap of maximum closure of 187 km2 for pipeline gas to power, with pipeline 2.5km from wellhead.   Moroccan gas prices are high, and the fiscal terms are some of the best in the world.  Predator also has a diversified portfolio of assets across Ireland and Trinidad, which is a near-term revenue-generating project.

Predator has an experienced management team with particular knowledge in Moroccan sub surface and operations.  The team specialises in incorporating modern, proven technologies and processes from Canada and the US to provinces where the conventional technologies did not allow their hydrocarbon potential to be revealed.

Predator Oil & Gas Holdings plc is listed on London Stock Exchange's Main Market with a Standard Listing (symbol: PRD). For further information, visit www.predatoroilandgas.com  

 

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