Conversion of Debt and Issue of Equity

RNS Number : 3601A

Predator Oil & Gas Holdings PLC

28 May 2019

 

Predator Oil & Gas Holdings Plc

("Predator" or the "Company")

Issue of Equity

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, has received notice from Arato Global Opportunities Limited for the conversion of a further £100,000 of the Loan Note, issued on 15 February 2019, and accordingly Predator has today allotted and issued 1,702,251 New Ordinary Shares.  The Company has made application for the admission of 1,702,251 New Ordinary Shares to listing on the Official List (standard listing segment) of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities which is expected to be effective on 3 June 2019. 

The Company advises that, following the issue of such 1,702,251 New Ordinary Shares, the Company's issued share capital is 105,247,953 shares of no par value, each with one vote per share (and no such shares are held in treasury). The total number of voting rights is therefore 105,247,953.

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 Paul Griffiths, Chief Executive Officer Sarah Cope, Non-Executive Chairman	Tel: [phone]
Novum Securities Limited Broker Jon Belliss	Tel: [phone]

Notes to Editors:

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Notes to Editors:

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 a 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 and potential acquisitions of assets suitable for C02 EOR development, subject to all necessary approvals. 

In addition, Predator also owns and operates exploration and appraisal assets in current 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.

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is initially prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.

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

 

END

 

 

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