Highlights

Predator Oil & Gas Holdings, the Jersey-based Oil and Gas Company with producing hydrocarbon operations and exploration activity focussed on Trinidad and Morocco, has announced the execution of an amendment to the existing rig contract with Intrepid Drilling Limited  (formerly Star Valley Drilling Limited) for Rig 101, which is currently stacked at the Company's MOU-5 well site.

The Amendment to the existing drilling contract, dated 24 October 2022, allows for an extension to facilitate MOU-6 well operations for a period from 1 August 2026 to 1 October 2026.

Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:

'We are pleased to be entering into a new and exciting phase of drilling activity on two continents for gas and oil during the next 3 months.

The last 15 months have been spent re-building our well-delivery team using all the expertise available to us in Trinidad, Morocco, Tunisia and Canada.

We are very confident that our well planning and pre-drill operational programmes are now compatible with the expected subsurface conditions, defined by our initial drilling in 2021 to 2023, that we are likely to encounter whilst drilling the MOU-6 well.

Successful drilling and potential testing of our geological objectives may facilitate the de-risking of gas and oil resources that are capable of being brought into potential production within a short time framework, subject to the necessary regulatory approvals and technical and commercial due diligence.'

Original announcement link

Source: Predator Oil & Gas Holdings