 Nice update.
5 October 2023
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")
Update on gas offtake, development financing and rigless testing
Highlights
· Discussions opened to sell the Company's share of gas at the well head
· Financing options for the Company's share of future potential CNG development costs being discussed with preferred parties
· Rigless testing programme amended to test MOU-3 first
· High impact MOU-3 well to lead commercial negotiations for offtake of gas
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, announces an update for the Guercif Compressed Natural Gas ("CNG") project.
The Company has opened exploratory discussions with a group focussed on the downstream energy business to potentially sell its share of gas produced at the well head subject to an approved CNG development plan.
In order to accelerate the timing of substantive negotiations for the sale of its share of gas, subject to an approved Declaration of Commerciality, the Company has decided to amend its rigless testing programme. MOU-3 will now be the first well to be tested. This will establish the potential to maximise gas flow rates for the purpose of setting commercial parameters for the sale of the Company's share of potential gas produced to the present and future CNG industrial market irrespective of pre-drill production profile constraints imposed by its initial "Proof of CNG Concept" strategy.
The Company has been waiting for over three weeks for an in-country wireline logging unit. A perforating depth control (PDC) log is required to depth correlate the perforating points with a similar log run before the casing was set during well completion. Critically this ensures that perforations are aligned with the reservoir sand intervals to be tested.
As a result of this delay in the provision of a third party service the current slot for using Sandjet as the means of perforating has passed and therefore this phase of the testing programme is now being re-scheduled.
In order not to delay further it has been decided to test MOU-3 and MOU-1 using conventional perforating guns.
The Company is confident that the testing programme will deliver the results necessary to progress commercial negotiations for the offtake of its share of future potential CNG gas from the well head.
Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.
A follow-up Sandjet testing programme will take place later to test other reservoir intervals that are likely to respond better to the Sandjet perforating technique compared to conventional perforating guns.
The Company is also in discussion with several parties regarding the financing of the CNG development. Upon achieving acceptable financial terms funds set aside in the Company's strong balance sheet would be re-purposed for follow-up appraisal drilling.
Paul Griffiths, Executive Chairman of Predator, commented:
"Following the completion of drilling and prior to the execution of the rigless testing programme the Company has had a period of time to integrate the results from its MOU-1, MOU-2, MOU-3 and MOU-4 wells and mature its understanding of the structures holding possible gas accumulations. On this basis the MOU-3 well and structure is now defined as the focal point for a potential CNG development hub. As a result this well has been promoted to the first well in the rigless testing programme.
Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.
Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success."
For further information visit www.predatoroilandgas.com |
off topic
'The 2030 World Cup is to be played on three continents after Morocco, Portugal and Spain won the race to host the 48-team tournament but Uruguay, Argentina and Paraguay were gifted the opening three matches. The decision, which caught even seasoned Fifa watchers by surprise, means that World Cup 2030 will involve teams playing in six countries, each of which will qualify automatically. The World Cup has never been played on more than one continent before and proposals for a tournament to be played over thousands of miles was met with shock by climate groups.'
wc hosting usually result in infrastructure upgrades and stadium rebuilds which are energy intensive |
"Here's looking at you, kid" |
Has PG and his sidekick abandoned PRD and opened a Bar.... 'As Time Goes By' |
Management needs a kick
Up the backside , in the
Nicest way !!
No news and the share price will drop! |
Still a pump n dump is it ? |
https://m.youtube.com/watch?v=A-Vr9o-JurQ |
Still no news and well into October....apart from....Financial highlights:-- Loss from operations for the 6 months period is GBP2,361,721 ((GBP599,789 for the 6 months period ended 30 June 2022 ).If the (alternative sourced in France) flow testing equipment had arrived they would have announced it. So cash burn continues with no progress. The flooding and earthquake fallout seem to be creating considerable delays. Perhaps a progress update from the company is in order. |
GH tweets:
"If I was heading up #PRD
I would be playing my cards SO close to my chest...
they would be inside my chest cavity
I would trust nobody
Vanishingly few E&P explorers
get even close to discovering
what PG/LB have discovered
HAVE DISCOVERED😇" |
So I’m right you’re happy
to do nothing , how do you
Know I haven’t already sent
Emails to the Company,
It’s a thing called people
Pressure , being called out
on Management promises .
If we all did nothing , we
Would live in a society that
you obviously enjoy ..
Don’t underestimate a few
Holders asking Management
questions , that may just
show that they’re not delivering.. |
So I'm right? That's all you're going to do? Blimey. You continue to "speak out" on an anonymous, free, irrelevant bb. We need more of your type in this country - go for it boy! |
And you’re going to do ?
Nothing lol
At least I’m prepared
to speak out , if everyone
kept quiet like you perhaps
this country wouldn’t be in
a total mess..
Ohdearohdear is just another
Guy who sits deep in a crowd
and has no leadership skills ,
Happy for other people to take
a stand , while he hides behind
a wall of people 😉
You go! With all your too scared
to speak out attitude 😂😂😂 |
08:09:33
when 3 trades show of equal volume all at the same time, this usually means there is just one trade and a cancellation between the other 2
cross checking with lse, where trades are given a -, if approp, it is so with the above. can deduct 200k from the sell column |
How are going to hold them to account shares188? By not selling your shares? Wow. That'll teach 'em! By shouting at buses on a free, anonymous, irrelevant bb? Wow. That'll doubly teach 'em. You go boy! |
Don’t tell everyone how
Great things are then
Do a cheap placing, which
Has lost us 50% and lasted
2 months …
Simple
Please take note!!
Placing should of been 15p + |
Look at the last interview
Needs to be held accountable |
Why should you sell
and let management
Get away with it |
You should stick to the GKP board. |
You should sell up |
Hope Tern is doing better
Dave , I think a placing
will happen there soon |
Don’t agree,
6p is ..
The CEO needs to
Live up to his interviews
In my view he’s letting
Shareholders down now . |
11p is a clear bottom |
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