Predator Oil & Gas Holdings PLC
12 August 2026
FOR IMMEDIATE RELEASE
12 August 2026
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company")
Snowcap-3 Update
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, is pleased to announce the following update.
Preparation of Snowcap-3 Drilling Location and Production Facility Area
The contract for the civil engineering works to prepare the Snowcap-3 drilling location to accommodate Star Valley drilling Rig 205 and the Production Facility Area has been awarded to NABI Construction (Trinidad and Tobago) Limited. Site works will commence immediately.
Snowcap-3 drilling programme
The Snowcap-3 drilling programme has been prepared for regulatory approval.
The casing strategy and well design has been modified in order to set casing over and protect the primary objective, the Herrera #8 Sand, before entering the secondary objective, the Herrera #1 Sand, which the pre-drill forecast indicates may be over-pressured.
For context the Herrera #8 Sand tested light oil and associated gas in the Snowcap-1 well in 2011 on the same structure as that being appraised by Snowcap-3. At that time a maximum initial unrestrained flow rate of 1,574 bopd was achieved from a six-foot perforated interval. Snowcap-3 is expecting to target a significantly thicker interval for perforating.
The Herrera #1 Sand also tested light oil in the Rochard-1 well in 1955 on the same structure as that being appraised by Snowcap-3. At that time an initial flow rate of 312 bopd was achieved from a seventeen-foot perforated interval. Rochard-1 was drilled at the oil-water contact for the Herrera #1 Sand. Snowcap-3 will penetrate the Herrera #1 Sand significantly above the oil-water contact.
The Snowcap-3 well testing programme will be managed to determine the optimum stabilised daily oil flow rate that can be accommodated within the Production Facility Area.
Snowcap-3 will be drilled as a vertical hole to approximately 5,450 feet measured depth and is expected to take approximately 20 days to drill. An extensive well testing programme is planned following an evaluation of the wireline logs.
Admission to Trading
The Company confirms that further to the announcement of 20 January 2026, the 128,571,419 million new ordinary shares of no par value in the Company were admitted to trading on the Main Market of the London Stock Exchange on 23 January 2026.
In addition, the Company confirms that further to the announcement of 15 May 2026, the 85,714,286 million new ordinary shares of no par value in the Company were admitted to trading on the Main Market of the London Stock Exchange on 20 May 2026.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"We are pleased to have progressed our drilling operations to the point of execution after what has been a very challenging and uncertain period in the context of the logistical supply chain, which has been impacted by the situation in the Middle East.
We are expecting drilling and well testing operations to be completed in Morocco, where the civil engineering works for the MOU-6 drilling location is well underway, and Trinidad by early November.
We are looking forward to a successful and positive conclusion to operations that will potentially have a transformational and material impact on the Company's portfolio of assets by de-risking the ability of our reservoir targets to deliver commercial hydrocarbon flow rates.
Drilling is always the most exciting part of the oil and gas cycle as it is an operation that can immediately deliver high impact results in a success case. We have two opportunities to prove the merits of our business development strategy. We are the only company onshore Trinidad and Morocco with potentially low to moderate risk, high impact, drilling programmes this year."
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 / Calvin Man |
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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