Statement in relation to share price movement

RNS Number : 0007X

Predator Oil & Gas Holdings PLC

24 August 2020

 

FOR IMMEDIATE RELEASE

 24 August 2020

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

  LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

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

Statement in relation to share price movement/speculation

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco, and Ireland, notes the movement in the Company's share price and recent speculation on two unofficial investment bulletin boards suggesting that there would be an imminent fundraising by the Company by way of an equity placing.

The Company has not been involved in any discussions whatsoever with any party regarding a potential fund-raising transaction by way of an equity placing.

Further to its successful raise of £3.56 million in February this year, the Company is fully-funded for its drilling operations in Morocco and ongoing operations in Trinidad. Spending has been scaled back to prioritise only those operations that can be successfully carried out and completed by complying with the current COVID-19 restrictions. As previously stated the Company is ready to drill in Morocco as soon as it is safe to move personnel in and out of the country.

Investors are reminded that the Company, as a listed entity on the London Stock Exchange, will always provide direct and prompt communication by way of official communication methods, in accordance with the London Stock Exchange's Admissions and Disclosure Standards. 

Investors are also reminded that they should disregard any statements on social media that purport to have any inside information or insights.  Further, investors are requested to report to the Company any instances of the same.

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 Dr. Stephen Staley Non-executive Chairman Paul Griffiths  Chief Executive Officer	Tel: [phone] [e-mail]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis	Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone] [e-mail]

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 liquid 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

 

 

SPMSEFFDLESSELA