Placing Update

RNS Number : 7415G

Predator Oil & Gas Holdings PLC

31 March 2022

 

FOR IMMEDIATE RELEASE

31 March 2022

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")

       Placing to raise £1.035 million - Update

Further to the Company's announcement released on 17 March 2022 (the "Placing Announcement") that it has conditionally placed 11,500,000   new ordinary shares of no par value in the Company (the "Placing Shares") at a placing price of 9 pence each (the "Placing Price") to raise £1.035 million before expenses (the "Placing"), it is now expected that the Second Admission will become effective and that dealings in the Second Tranche Shares are expected to commence at 8.00am on 1 April 2022.

Words and expressions defined in the Placing Announcement shall have the same meaning in this announcement.

Following Admission of the Second Tranche Shares the enlarged Share Capital will be 304,446,267 ordinary shares of no par value.

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 Lonny Baumgardner  Chief Operating Officer	Tel: [phone] [e-mail]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis Peterhouse Capital Limited Charles Goodfellow	Tel: [phone] Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone] [e-mail]

Notes to Editors:   

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up testing programme is being developed and a further drilling programme is under review.

Predator is seeking to further develop the remaining oil reserves of Trinidad's mature onshore oil fields through the application of CO2 EOR techniques and by sequestrating anthropogenic carbon dioxide to produce "greener" oil.

In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.

Predator has developed a Floating Storage and Regasification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.

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

 

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