First Day of Dealings

RNS Number : 0127P

Predator Oil & Gas Holdings PLC

24 May 2018

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

This announcement is an advertisement and does not constitute a prospectus and investors must subscribe for or purchase any shares referred to in this announcement only on the basis of information contained in the prospectus published by Predator Oil & Gas Holdings Plc (the "Prospectus") and not in reliance on this announcement. Copies of the Prospectus may, subject to any applicable law, be obtained from the registered office of the Company. This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, or a recommendation regarding the issue or the provision of investment advice by any party.

24 May 2018

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and, together with its subsidiaries, the "Group")

First Day of Dealings 

Predator Oil & Gas Holdings Plc, an oil and gas exploration company, is pleased to announce the successful placing of 46,428,600 new ordinary shares of no par value each in the Company (the "Placing") at a Placing Price of 2.8 pence each and the Admission of its entire issued share capital, being 100,137,150 ordinary shares of no par value each, to the Standard Listing segment of the Official List (the "Listing") and to trading on the Main Market of the London Stock Exchange ("Admission"). Optiva Securities and Novum Securities are acting as Joint Brokers and placing agents to the Company.

The Company was formed to consolidate the acquisition of a specific non-operated oil and gas business opportunity in the Republic of Trinidad and Tobago, which will generate near-term income for the Company, and an exploration and appraisal portfolio offshore Ireland that forms an existing business operated by its wholly-owned subsidiary Predator Oil and Gas Ventures Ltd.

The Company has raised gross proceeds of £1.3 million under the Placing, which will be used to facilitate its investment strategy and to provide working capital. The Placing was significantly over-subscribed.

Prospectus

The Prospectus published by the Company in connection with Admission is available on the Company's website at www.predatoroilandgas.com  and is also available at the FCA's Document Storage Mechanism at http://morningstar.co.uk/uk/NSM. Hard copies of the Prospectus will also be available during normal business hours at the offices of the Company's Joint Brokers and Placing Agents, Optiva Securities,  49 Berkeley Square Mayfair, London W1J5AZ and Novum Securities  8-10 Grosvenor Gardens, Belgravia, London SW1W 0DH.

Paul Griffiths, Chief Executive Officer, commented: "We are delighted at the support shown by our new shareholders and welcome them to the Company. This Listing, which is the first by a junior oil and gas company in 2018, represents a new chapter for Predator Oil & Gas and we are looking forward to executing our investment strategy. We will be in a position to provide an operational update to investors on our progress in the coming weeks as preparations for drilling in Trinidad get underway and as we seek to further develop our exciting opportunities offshore Ireland."

Enquiries:

Predator Oil & Gas Holdings Plc Paul Griffiths (CEO) Sarah Cope (Chairman)	01534 834 600
Optiva Securities (Joint Broker and Placing Agent)  Jeremy King Tejas Padalkar Novum Securities (Joint Broker and Placing Agent) Jon Belliss	020 3137 1902 020 7399 9427
IFC Advisory (Financial PR & IR) Graham Herring Miles Nolan Zach Cohen	020 3934 6630

Notes to Editors:

Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in two infill production wells in H1 2018 in the Inniss Trinity oil field onshore Trinidad. A successfully completed drilling programme is forecast to provide early cash flow and information for a Pilot Enhanced Oil Recovery project using locally-sourced carbon dioxide for injection into the oil reservoirs ("C02 EOR"). Expansion and growth potential is focused on successfully executing a Pilot C02 EOR project and the subsequent acquisition of assets with C02 EOR potential.

In addition, Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland 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. Developing the full potential of these assets are dependent on securing suitable drilling partners.

The Company has a highly experienced Board with a proven track record in the oil and gas industry of sourcing projects, developing and financing their potential and executing an exit strategy.

Please refer to the Company's website for further details at:

www.predatoroilandgas.com

 

END

 

 

LISEAPSDAANPEEF