Predator Oil & Gas Holdings PLC Operational Update CO2 EOR Trinidad (2501D)
October 27 2020 - 3:00AM
UK Regulatory
TIDMPRD
RNS Number : 2501D
Predator Oil & Gas Holdings PLC
27 October 2020
FOR IMMEDIATE RELEASE
27 October 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")
Operational Update CO2 EOR Trinidad
Predator Oil & Gas Holdings Plc (Predator), the Jersey-based
Oil and Gas Company with operations in Trinidad, Morocco and
Ireland, is pleased to announce that the Ministry of Energy and
Energy Industries ("MEEI") has given a WO1 Approval Notification
for the restoration, by means of a well workover, of the AT-5X CO2
injection well to oil production.
Approval has also been granted by the MEEI to commence injecting
CO2 into the AT-13 well in the AT-4 Block in the Inniss-Trinity
field.
As announced previously, approval has also been granted by the
MEEI for the commissioning and use of Predator's dedicated CO2
Recovery system at the FRAM Exploration Gathering Station #4 in the
Inniss-Trinity field.
Paul Griffiths, Chief Executive of Predator, commented:
"The announcement today completes the approval procedures
necessary for entering into the extended phase of CO2 injection and
simultaneous oil production for the Pilot CO2 EOR Project. We are
pleased to have progressed matters to completion despite the
COVID-19 constraints. We are demonstrating our ability to work
together with our excellent in-country team of partners to maintain
operational progress through adversity to deliver results ."
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 834 600
Dr. Stephen Staley Non-executive Chairman Info@predatoroilandgas.com
Paul Griffiths Chief Executive Officer
Novum Securities Limited Tel: +44 (0) 207 399 9425
Jon Belliss
Optiva Securities Limited Tel: +44 (0) 203 137 1902
Christian Dennis
Flagstaff Strategic and Investor Communications Tel: +44 (0) 207 129 1474
Tim Thompson predator@flagstaffcomms.com
Mark Edwards
Fergus Mellon
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.
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