Update on Sales Revenues and Drilling Plans
Predator Oil & Gas Holdings Plc reported net petroleum revenue of £1,522,877 from the sale of 52,130 barrels of oil in the first half of 2026, with drilling preparations for the Snowcap-3 well in Trinidad and the MOU-6 well in Morocco progressing on schedule. The company also confirmed the admission of 128,571,419 new ordinary shares to trading on January 23, 2026, and a subsequent admission of 85,714,286 new ordinary shares on May 20, 2026, bringing the total number of securities in issue to 900,572,100.
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Highlights
- H1 2026 oil sales 52,130 barrels
- Net petroleum revenue (before costs) £1,522,877
- Snowcap-3 and MOU-6 drilling preparations on schedule
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey-based Oil and Gas Company with producing hydrocarbon operations and exploration activity focussed on Trinidad and Morocco, announces the following update.
Sales oil revenue H1 2026 (01.01.26 - 30.06.26)
Gross oil production of 52,130 barrels was sold from the Icacos and Bonasse fields (Ministry licences) and the Goudron and Inniss-Trinity fields (Enhanced Production Services Contract) for net petroleum revenue of £1,522,877 (before operating costs).
Significant investment has been made in improving field infrastructure and access to old shut-in wells. The well workover of GY 664 in the Goudron field has given excellent results to date, with steady production during August of between 30 to 32 bopd.
Drilling preparations
In Trinidad civil engineering works for the Snowcap-3 well pad and production facilities are progressing on schedule.
In Morocco civil engineering works for the MOU-6 well pad have now been completed.
Explosives for the perforating guns necessary for well testing MOU-6, subject to the completion of the drilling programme and an evaluation of the wireline logs, have arrived in the Moroccan port of entry. This is the most critical long-lead item for determining the timing of rig mobilisation.
Admission to trading update
| 1) | Name and LEI | Predator Oil & Gas Holdings PLC 213800L7QXFURBFLDS54 |
| 2) | Regulated Market | London Stock Exchange - Main Market |
| 3) | Name, type and ISIN | Ordinary Shares of no par value JE00BFZ1D698 |
| 4) | Number of further securities issued and admitted | 128,571,419 |
| 5) | Total number of securities in issue following admission | 814,857,814 |
| 6) | Fungibility | Fully fungible with existing Ordinary Shares |
| 7) | Date of Admission | 23 January 2026 |
| 8) | Prospectus Information | N/A |
In addition, the Company confirms that further to the announcement of 15 May 2026, the 85,714,286 new ordinary shares of no par value in the Company were admitted to trading on the Main Market of the London Stock Exchange on 20 May 2026.
| 1) | Name and LEI | Predator Oil & Gas Holdings PLC 213800L7QXFURBFLDS54 |
| 2) | Regulated Market | London Stock Exchange - Main Market |
| 3) | Name, type and ISIN | Ordinary Shares of no par value JE00BFZ1D698 |
| 4) | Number of further securities issued and admitted | 85,714,286 |
| 5) | Total number of securities in issue following admission | 900,572,100 |
| 6) | Fungibility | Fully fungible with existing Ordinary Shares |
| 7) | Date of Admission | 20 May 2026 |
| 8) | Prospectus Information | N/A |
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"Preparations for drilling the Snowcap-3 well in Trinidad are proceeding smoothly and on schedule.
We expect to have the date for the commencement of the MOU-6 well operations in Morocco within the next two weeks on current schedule.
Successful well testing with flow of hydrocarbons is the catalyst for finalising commercial deals and financing arrangements for development based on potentially attractive revenue forecasts. Speculating with regard to such arrangements at this time is mis-guided. We have demonstrated financial strength by always maintaining an adequate balance sheet. That has made it possible for us to retain our original equity in our projects and operatorship and control thereof during the higher risk stage of portfolio development over several years. This is what has attracted parties to our well-managed operations. This is combined with a recognition of our ability to execute drilling programmes with a low operating overhead and significant growth potential within the assets under our management. This strengthens our negotiating position when it comes to the most critical part of the oil and gas cycle - monetisation."
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.