LICENSING UPDATE

RNS Number : 5586Q

Predator Oil & Gas Holdings PLC

07 June 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.

7 June 2018

Predator Oil & Gas Holdings Plc

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

LICENCE UPDATE

LICENSING OPTION 16/26

CORRIB SOUTH

Predator Oil & Gas Holdings Plc, (PRD LSE), an Oil and Gas Exploration Company (the "Company"), today provides a licence update regarding Licensing Option ("LO") 16/26 located in the Slyne Basin 18 kms. from the Corrib gas field. LO 16/26 is operated by Predator Oil and Gas Ventures Ltd. (50%), a wholly-owned subsidiary of the Company, on behalf of its partner Theseus Ltd. (50%), collectively referred to as the "JV Partners". LO 16/26 contains the undrilled Triassic Corrib South gas prospect.

Predator can confirm that the JV Partners have elected to apply to the Minister of State at the Department of Communications, Climate Action and Environment to convert LO 16/26 into a Frontier Exploration Licence.

Paul Griffiths, CEO of Predator said:

"We are very pleased that the JV Partners under the operatorship of Predator, have applied to convert the Licensing Option containing the Corrib South prospect to a Frontier Exploration Licence. We look forward to progressing our operational plans both in Ireland and onshore Trinidad and will provide further updates as and when appropriate".

Enquiries:

Predator Oil & Gas Holdings Plc Paul Griffiths (CEO) Sarah Cope (Chairman)	01534 834 600
Optiva Securities (Joint Broker)  Jeremy King Novum Securities (Joint Broker) Jon Belliss	020 3137 1902 020 7399 9425
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 2 infill production wells in H1 2018 in the Inniss Trinity oil field onshore Trinidad, which will potentially 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 focussed on the 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. The Company has a highly experienced management team with a proven track record in the oil and gas industry.

 

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