Predator Oil & Gas Holdings PLC Result of GM (5610H)
March 25 2020 - 7:33AM
UK Regulatory
TIDMPRD
RNS Number : 5610H
Predator Oil & Gas Holdings PLC
25 March 2020
Predator Oil & Gas Holdings PLC
25 March 2020
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")
Result of General Meeting ("GM")
The Company announces that at the GM held earlier today, all
resolutions were duly passed.
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 Tel: +44 (0) 1534
Carl Kindinger Chairman 834 600
Paul Griffiths Chief Executive Officer Info@predatoroilandgas.com
Novum Securities Limited Tel: +44 (0) 207
Jon Belliss 399 9425
Optiva Securities Limited
Christian Dennis Tel: +44 (0) 203
137 1902
Follow us also on VOX Market https://www.voxmarkets.co.uk/
Qualified Person's statement:
The information contained in this document has been reviewed and
approved by Mr. Paul Griffiths, Chief Executive Officer. Mr
Griffiths has a BSc in Geology from Imperial College London and is
an Associate of the Royal School of Mines. Mr. Griffiths has over
43 years of relevant experience in the upstream oil industry.
Background to Guercif Drilling Plans
The initial drilling programme will comprise the drilling of the
Moulouya-1 Prospect, subject to all regulatory consents and
approvals, to a depth of 2,000 metres. The drilling rig
mobilisation and drilling operations are expected to take up to 30
days.
Completion of the first well will release US$ 1 million of
PGVL's US$ 1.5 million bank guarantee with ONHYM, subject to final
delivery of all the data from the well to ONHYM.
At PGVL's sole option, and subject to ONHYM approval and all
regulatory consents being received, PGVL shall have the option to
extend the drilling programme by the drilling of either an
appraisal well, if required, or a follow-up exploration well to
capitalise on significantly reduced mobilisation and well services
costs attributable to having an active rig available for immediate
use.
Notes to Editors:
Predator is operator of the Guercif Petroleum Agreement onshore
Morocco which is prospective for Tertiary gas in a prospect 4
kilometres from the Maghreb gas pipeline, and deeper Triassic gas.
A well location has been selected for drilling in Q2 2020 and a rig
option agreement has been exercised.
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 the 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.
In addition, Predator also operates exploration and appraisal
assets in 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. Ireland
however remains a very challenging regulatory environment for
business investment in the oil and gas sector and is not the
immediate focus of the Company's near-term operations.
The Company has a highly experienced management team with a
proven track record in the oil and gas industry.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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