FOR
IMMEDIATE RELEASE
26 June
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")
Exercise of Broker
Warrants
Predator Oil & Gas Holdings Plc
(PRD), the Jersey-based Oil and Gas Company with
the Jersey based Oil and Gas
Company with near-term hydrocarbon operations focussed on
Morocco and Trinidad announces
that it has received an exercise notice
from Novum Securities Limited
("Novum")
in respect of 5,221,203 warrants issued to it pursuant to warrant
agreements with the Company:
2,890,908 of the warrants are
exercisable at 5.5 pence per share;
1,780,412 of the warrants are
exercisable at 5.7 pence per share; and
549,883 of the warrants are
exercisable at 8.0 pence per share.
The Company has therefore allotted
and issued to Novum the total of 5,221,203 new ordinary shares (the
"New Shares") following
receipt of the aggregate £304,474.06.
Application is being made for the
New Shares to be admitted listing on the
Official List and to trading on the Main Market of the London
Stock Exchange's which is expected to be on
or around 1 July 2024.
The New Shares rank pari passu with
the existing ordinary shares of the Company. Following the issue of
the New Shares, the Company's issued ordinary share capital shall
consist of 570,382,865 ordinary shares of no par value. The figure
of 570,382,865 represents the total voting rights in the Company
and should be used by shareholders as the denominator for the
calculation by which they can determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's ("FCA") Disclosure
Guidance & Transparency Rules.
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
|
|
|
Novum Securities Limited
David Coffman / Jon
Belliss
Oak
Securities
Jerry Keen
|
Tel: +44 (0)207 399 9425
Tel: +44 (0)203 973 3678
Jerry.keen@oak-securities.com
|
|
|
Camarco - Financial PR
Billy Clegg / Owen Roberts / Fergus
Young
|
Tel: +44 (0)20 3757 4980
PredatorOilGas@camarco.co.uk
|
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.