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 an operational update.

Trinidad

Snowcap-3 ('SC-3')

Snowcap-2ST1 ("SC-2ST1") and Jacobin-1 well re-entries

April net oil sales entitlement under the Master Services Agreement ('MSA') for the Goudron, Bonasse, Inniss-Trinity and Icacos fields

Short-term business development strategy

Morocco

Independent Technical Resources Report ('ITR') MOU-6

The ITR is a strategic document for updating the Company's business development strategy for Morocco.

The ITR is available at www.predatoroilandgas.com

Short-term business development strategy

MOU-6 well planning

Ireland

Corrib South Licensing Option 16/26

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

'Since 2021 the global oil and gas sector has faced unprecedented challenges generated by the demand to replace fossil fuels by renewable green energy to address legitimate climate change concerns. The rationale for the changeover was ill-conceived as it did not address energy security and the impact of energy price shocks on the cost-of-living during an inevitable transition period. This impacted investor sentiment and political expediency in Europe to delay and put in place regulatory hurdles to frustrate the development of oil and gas sector assets. Access to capital and finance needed for business development growth became restricted and more costly. "Swimming against the tide" would be an apt description for the oil and gas sector, particularly impacting smaller independents during this period leading to a contraction and near-elimination of the farmout market.

Fast-forward to the past 12 months and energy security and the cost-of-living crisis has replaced the former political narrative as a result primarily of the Middle East wars. Very few pragmatic and fair-minded people would deny the importance of fossil fuel to sustain the Energy Transition and ameliorate the cost-of-living crisis by developing indigenous oil and gas resources.

The Company has survived this period of turbulence to be in a position to now 'swim-with-the-tide' .

The change in sentiment in  political,  financial and regulatory  circles is now being utilised by the Company to drive our operations forward in 2026 in a manner that was not previously possible.

We are very pleased with current progress given the unpredictable impact of the Middle East conflict on the global logistical supply chain. So far there has been no consequences for the Company. This window of opportunity must be exploited before the cycle of positive sentiment might yet turn again,  as politicians are fickle, depending on which way the votes blow!'

1,200 barrels of oil storage capacity being moved to Snowcap-3 well site

Original announcement link

Source: Predator Oil & Gas