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Share Name Share Symbol Market Type Share ISIN Share Description
Predator Oil & Gas Holdings Plc LSE:PRD London Ordinary Share JE00BFZ1D698 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.15 -4.92% 2.90 2.80 3.00 3.05 2.90 3.05 2,916,335 13:25:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.3 -1.2 - 6

Predator Oil & Gas Holdings PLC Admission of Shares

06/04/2020 12:48pm

UK Regulatory (RNS & others)


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RNS Number : 9261I

Predator Oil & Gas Holdings PLC

06 April 2020

FOR IMMEDIATE RELEASE

6 April 2020

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")

Admission of Shares

Further to its announcement on 14 February 2020 of the placing of 89,000,000 new ordinary shares of no par value in the Company at 4p per share (the "Placing") to raise GBP3.56 million (before expenses), together with the issue of 4,875,000 new ordinary shares approved at a General Meeting of the Company held on 25 March 2020, Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland , announces that the issue and proposed admission of, 4,875,000 new ordinary shares to listing on the UK Listing Authority's Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") is expected to become effective at 8.00 am Tuesday 7 April 2020

Total Voting Rights

Following proposed admission, the Company has shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company will therefore be 202,047,169. This figure of 202,047,169 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

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                              Tel: +44 (0) 1534 
  Carl Kindinger Chairman                                      834 600 
  Paul Griffiths Chief Executive Officer                       Info@predatoroilandgas.com 
 
 Novum Securities Limited 
  Jon Belliss                                                   Tel: +44 (0) 207 
  Optiva Securities Limited                                     399 9425 
  Christian Dennis 
                                                                Tel: +44 (0) 
                                                                203 137 1902 
 
 Follow us also on VOX Market https://www.voxmarkets.co.uk/ 
 

Qualified Person's statement:

The information contained in this document has been reviewed and approved by Mr. Paul Griffiths, Chief Executive Officer. Mr Griffiths has a BSc in Geology from Imperial College London and is an Associate of the Royal School of Mines. Mr. Griffiths has over 43 years of relevant experience in the upstream oil industry.

Background to Guercif Drilling Plans

The initial drilling programme will comprise the drilling of the Moulouya-1 Prospect, subject to all regulatory consents and approvals, to a depth of 2,000 metres. The drilling rig mobilisation and drilling operations are expected to take up to 30 days.

Completion of the first well will release US$ 1 million of PGVL's US$ 1.5 million bank guarantee with ONHYM, subject to final delivery of all the data from the well to ONHYM.

At PGVL's sole option, and subject to ONHYM approval and all regulatory consents being received, PGVL shall have the option to extend the drilling programme by the drilling of either an appraisal well, if required, or a follow-up exploration well to capitalise on significantly reduced mobilisation and well services costs attributable to having an active rig available for immediate use.

Notes to Editors:

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in a prospect 4 kilometres from the Maghreb gas pipeline, and deeper Triassic gas. A well location has been selected for drilling in Q2 2020 and a rig option agreement has been exercised.

Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves in the producing Inniss-Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing the Pilot Enhanced Oil Recovery project using locally sourced carbon dioxide for injection into the oil reservoirs ("C02 EOR"). Near-term expansion and growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field.

In addition, Predator also operates exploration and appraisal assets in licensing options offshore Ireland, for which Successor Authorisations have been applied for, adjoining Shell's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea. Ireland however remains a very challenging regulatory environment for business investment in the oil and gas sector and is not the immediate focus of the Company's near-term operations.

The Company has a highly experienced management team with a proven track record in the oil and gas industry.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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April 06, 2020 07:48 ET (11:48 GMT)

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