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Predator O&G Hldgs - Statement in relation to share price movement

RNS Number : 0007X
Predator Oil & Gas Holdings PLC
24 August 2020
 

 

FOR IMMEDIATE RELEASE

 24 August 2020

 

               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")

 

 

Statement in relation to share price movement/speculation

 

 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco, and Ireland, notes the movement in the Company's share price and recent speculation on two unofficial investment bulletin boards suggesting that there would be an imminent fundraising by the Company by way of an equity placing.

 

The Company has not been involved in any discussions whatsoever with any party regarding a potential fund-raising transaction by way of an equity placing.

 

Further to its successful raise of £3.56 million in February this year, the Company is fully-funded for its drilling operations in Morocco and ongoing operations in Trinidad. Spending has been scaled back to prioritise only those operations that can be successfully carried out and completed by complying with the current COVID-19 restrictions. As previously stated the Company is ready to drill in Morocco as soon as it is safe to move personnel in and out of the country.

 

Investors are reminded that the Company, as a listed entity on the London Stock Exchange, will always provide direct and prompt communication by way of official communication methods, in accordance with the London Stock Exchange's Admissions and Disclosure Standards. 

 

Investors are also reminded that they should disregard any statements on social media that purport to have any inside information or insights.  Further, investors are requested to report to the Company any instances of the same.

 

 

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

Dr. Stephen Staley   Non-executive Chairman

Paul Griffiths             Chief Executive Officer

Tel: +44 (0) 1534 834 600

[email protected]

 

 

 

Novum Securities Limited

Jon Belliss

 

Optiva Securities Limited

Christian Dennis

Tel: +44 (0) 207 399 9425

 

 

Tel: +44 (0) 203 137 1902

 

 

Flagstaff Strategic and Investor Communications

Tim Thompson 

Mark Edwards

Fergus Mellon

Tel: +44 (0) 207 129 1474

[email protected]

 

 

 

 

 

 

 

 

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 liquid 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.

 

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.

 

 

 

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