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PRD Predator Oil & Gas Holdings Plc

9.00
0.50 (5.88%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.50 5.88% 9.00 8.50 9.50 9.25 8.75 8.75 1,941,270 09:22:24
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 0 -2.56M -0.0045 -20.00 50.63M

Predator Oil & Gas Holdings PLC Progress Update Trinidad (1205L)

05/09/2019 8:00am

UK Regulatory


Predator Oil & Gas (LSE:PRD)
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TIDMPRD

RNS Number : 1205L

Predator Oil & Gas Holdings PLC

05 September 2019

FOR IMMEDIATE RELEASE

5 September 2019

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")

Progress Update Trinidad - Carbon Dioxide Enhanced Oil Recovery ("C02 EOR")

HIGHLIGHTS

   --     Well survey workover operations at AT-4 and AT-13 have completed. 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, today provides an operations update on its progress onshore Trinidad.

FRAM Exploration Trinidad Ltd. ("FRAM"), the operator of the Inniss-Trinity field and a wholly-owned subsidiary of Columbus Energy Resources PLC, has successfully completed workover well operations to survey downhole the AT-4 and AT-13 wells.

Based on the AT-13 survey results the Herrera #2 Sand has been confirmed as being accessible for CO2 EOR operations.

AT-5X and AT-13 have been selected as the preferred initial wells for CO2 EOR injection and production operations.

The well workover survey results for the Herrera #2 Sand are significant. Based on independent reservoir engineering studies and CO2 EOR resources estimates generated by Dr. John Tingas, the Herrera #2 Sand has the potential to contribute over 50% of the total recoverable CO2 EOR resources within the AT-4 compartment in the Inniss-Trinity field.

Paul Griffiths, Chief Executive of Predator, commented:

This is really excellent news and allows us to focus on the larger resources potential of the Herrera #2 Sand which we originally considered might have been a more difficult operational challenge.

Enquiries:

 
 Predator Oil & Gas Holdings           Tel: +44 (0)1534 834600 
  plc 
  Paul Griffiths, Chief Executive 
  Officer 
  Carl Kindinger, Non-Executive 
  Chairman 
 Brandon Hill Capital                  Tel: +44 (0)20 3463 5000 
  Jonathan Evans / Oliver Stansfield 
 
  Novum Securities Limited              Tel: +44(0) 207 399 9425 
  Jon Bellis 
 
 
 
     This announcement contains inside 
     information for the purposes 
     of Article 7 
     of the Regulation (EU) No 596/2014 
     on market abuse 
 

Notes to Editors:

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 a 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 and potential acquisitions of assets suitable for C02 EOR development, subject to all necessary approvals.

In addition, Predator also owns and operates exploration and appraisal assets in current 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. A Successor Authorisation has been granted for the Celtic Sea asset whilst the result of an application for a Frontier Exploration Licence over the Slyne Basin exploration asset is is pending.

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is initially prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.

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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(END) Dow Jones Newswires

September 05, 2019 03:00 ET (07:00 GMT)

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