FOR
IMMEDIATE RELEASE
16 May
2024
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")
Result of Annual
General Meeting
At the Annual General Meeting
of Predator Oil & Gas Holdings Plc (PRD), held
earlier today, all resolutions were duly passed.
Resolution No.
|
For
|
%
of votes cast
|
Against
|
%
of votes cast
|
1. Receive the 2023
Accounts
|
86,358,104
|
98.93
|
935,348
|
1.07
|
2. Re-appointment of
Auditors
|
85,975,493
|
98.11
|
1,653400
|
1.89
|
3. Allotment of Ordinary
Shares
|
84,342,108
|
96.24
|
3,292,830
|
3.76
|
For further information visit
www.predatoroilandgas.com
Follow the Company on X
@PredatorOilGas.
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
Executive Chairman
Lonny Baumgardner Managing
Director
|
Tel: +44 (0) 1534 834 600
Info@predatoroilandgas.com
|
Oak
Securities
Jerry
Keen
Novum
Securities Limited
David Coffman / Jon Belliss
|
Tel: +44 (0)203 973 3678
Jerry.keen@oak-securities.com
Tel: +44 (0)207 399 9425
|
Flagstaff
Strategic and Investor Communications
Tim Thompson
Mark Edwards
Fergus Mellon
|
Tel: +44 (0)207 129 1474
predator@flagstaffcomms.com
|
|
|
|
|
Notes to Editors:
Predator is operator of the Guercif Petroleum
Agreement onshore Morocco which is prospective for Tertiary and
Jurassic gas. The current focus of the exploration and
appraisal drilling programme is located less than 10 kilometres
from the Maghreb gas pipeline. The MOU-1 well drilled in 2021
and the MOU-3 and MOU-4 wells drilled in 2023 have been completed
for rigless testing in early 2024. Near-term focus is on supplying
compressed natural gas ("CNG") to the Moroccan industrial market. A
Collaboration Agreement for potential CNG gas sales of up to 50 mm
cfgpd has been executed with Afriquia Gaz. Further drilling
activity is anticipated in 2024 to further evaluate the MOU-4
Jurassic prospect.
Predator is seeking in the medium term to apply
CO2 EOR techniques onshore Trinidad which have the advantage of
sequestrating anthropogenic carbon dioxide. The acquisition of
T-Rex Resources (Trinidad) Ltd. ("T-Rex") is a first step to
realising this objective. T-Rex holds the Cory Moruga Production
Licence. Cory Moruga is a largely undeveloped near-virgin oil field
of similar potential size to the nearby Moruga West and
Inniss-Trinity mature oil fields. The Cory Moruga Production
Licence is a potentially significant asset for the Company with the
capability of generating positive operating profits in the
near-term. Capital required for staged field development can be
implemented potentially utilising operating profits generated from
an increasing level of gross production revenues.
Predator 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. The applications for successor authorisations remain
"under consideration" by the DECC.
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.
Further progress for the Mag Mell FSRUP will be
dependent on government policy in relation to security of energy
supply. A generalised FSRUP concept has now been recognised by the
government as an option for security of energy supply.
The Company has a small but highly experienced
management team with a proven track record in successfully
executing drilling operations in the oil and gas sector and in
acquiring assets where there is a potential to generate multiple
returns for relatively low and manageable levels of
investment.