Predator Oil & Gas Holdings PLC
17 August 2026
FOR IMMEDIATE RELEASE
17 August 2026
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")
Snowcap-3 rig contract
Highlights
· Rig 205 contracted to drill Snowcap-3 ("SC-3")
· 600-foot oil column extrapolated for the Herrera #8 Sand
· Pre-drill forecast for SC-3 to test Herrera #8 Sand approximately 170 feet above lowest known oil in Rochard-1
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey-based Oil and Gas Company with producing hydrocarbon operations and exploration activity focussed on Trinidad and Morocco, announces the following update.
Sc-3 drilling rig
The Company has executed a drilling rig contract with Star Valley Drilling (Trinidad) Limited for Rig 205.
SC-3 drilling and well testing operations will commence shortly after the completion of the MOU-6 well in Morocco. This will ensure optimum deployment of the Company's management team to efficiently supervise each individual operation in two different jurisdictions.
Primary target update - Herrera #8 Sand
Following on from earlier this year when the oil fluid level and reservoir pressure extrapolation in Snowcap-2ST1 was measured and a light oil sample assayed, the results have now been integrated with the new 3D seismic interpretation and adjusted bottom hole location for the Herrera #8 Sand in the highly deviated well Snowcap-1.
The results indicate that Snowcap-2ST-1, Snowcap-1 and Rochard-1 wells support an extrapolated oil column for the Herrera #8 Sand of 600 feet.
The pre-drill forecast is that SC-3 will potentially confirm the Herrera #8 oil column approximately 170 feet higher than the oil encountered in Rochard-1 in the Herrera #8 Sand. SC-3 will also evaluate the Herrera #1 Sand secondary objective approximately 200 feet higher than its oil-water contact seen in Rochard-1.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"Our pre-drilling preparations are progressing extremely well in our two drilling jurisdictions. Rig contracts have been executed; environmental approvals are in place; civil engineering work for drilling and production facilities is underway; drilling and technical programmes have been finalised and submitted for regulatory approvals; well services contractors have been selected; and well inventory is being assembled at our well sites.
We are confident of a successful outcome to our drilling programmes such that we are planning the next stages of accretive project development. In Trinidad this may focus on the potential for converting any surplus wellhead gas in Cory Moruga into onsite electricity generation for hydrogen fuel cells (to replace LPG reliance) and data centres. Initial approaches have been made to the Company; however it is too early to say if these will lead to a commercially robust business development model. The Company is also in early stage discussions with an entity that has significant experience over many years in analysing and producing biogenic gas in Romania. Initially a technical collaboration is envisaged to focus on "semi-conventional" potential gas reservoirs. We have previously reported the potential for such reservoirs in Morocco and should the technical collaboration go ahead then this would be an important step in evaluating and de-risking the potential based on third party proven experience. MOU-6 is forecast to provide a suite of wireline logs and pressure points that may contribute to understanding the additional semi-conventional gas potential."
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 Chief Executive Officer |
Tel: +44 (0) 1534 834 600 |
|
AlbR Capital Limited David Coffman / Jon Belliss OAK Securities Jerry Keen
|
Tel: +44 (0)207 469 0930 Tel: +44 (0) 20 3973 3678 |
|
Flagstaff Strategic and Investor Communications Tim Thompson Alison Alfrey Fergus Mellon |
Tel: +44 (0)207 129 1474 |
Notes to Editors:
Predator is an oil & gas company with a portfolio of assets including unique and highly prospective onshore Moroccan gas exposure and production, appraisal and exploration projects onshore Trinidad.
Morocco offers a potentially faster route to commercialisation of shallow biogenic gas through a CNG or micro-LNG development. The structure penetrated by the MOU-1 and MOU-3 wells is currently defined as having the best hydrocarbon potential and remains key focus for further appraisal and potential development. The Company is committed to partnering with entities capable of supporting a future development decision and who have already identified the opportunity as one warranting the execution of a Collaboration Agreement and a Memorandum of Understanding. Moroccan gas prices are high, and the fiscal terms are some of the best in the world. The presence of gas export infrastructure adjacent to the MOU-1 and MOU-3 structure allows for a scalable gas development after initial CNG or micro-LNG gas production over time establishes the extent of connected gas volumes and the capability of reservoirs to deliver at plateau rates over time.
Trinidad offers the security of a mature onshore oil province that has been producing hydrocarbons for over 50 years. Predator has assembled a portfolio of onshore producing fields with opportunities for production enhancement and additional infill development and appraisal drilling. Significant legacy tax losses, economies of scale and the application of new low-cost technologies are factors that can improve profit margins per barrel of oil produced. A Master Services Agreement with local operator NABI Construction relieves the Company of the burden and costs of operating the fields and executing drilling and heavy well workovers. In return the Company receives 30% of gross sales revenues for which it can use its acquired tax losses to substantially reduce Petroleum Profit Tax from 50% to an effective rate of 12.5%.
Predator has an experienced technical, financial and legal management team with particular knowledge of the Moroccan and Trinidad sub-surface and operations and an ability to complete M & A transactions in Trinidad and receive regulatory approvals in a timely manner and without any unnecessary advisory fees for transactions. The Company's strategy is to operate at a much reduced overhead compared to other operators with portfolios of assets of similar extent to maintain competitiveness.
Predator Oil & Gas Holdings plc is listed on the Equity Shares (transition) category of the Official List of the London Stock Exchange's main market for listed securities (symbol: PRD).
For further information, visit www.predatoroilandgas.com
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