04:30 Tue 27 Oct 2020
Predator O&G Hldgs - Issuance of Share Options
FOR IMMEDIATE RELEASE
27 October 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")
Issuance of Share Options
Predator Oil & Gas Holdings Plc (Predator), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, advises of the issuance of previously unallocated options over new Ordinary Shares from an existing approved scheme.
Issuance of Options to Executive Directors
The Board's Remuneration Committee has resolved to make the following award of unallocated share options under the Company's existing approved option scheme:
To the CEO:
- Award of 3,850,000 Options
To the Project Development Director:
- Award of 3,850,000 Options
The Board has also resolved to make the following award of unallocated share options under the Company's existing approved option arrangements:
To each of the non-Executive Directors:
- Award of 1,650,000 Options
Aggregate Information
Directors' Holdings
Following the issue of the options to Directors as described above, and inclusive of shares and options already held by Directors, the aggregate position held by the Directors is as follows:
| DIRECTORS & FORMER DIRECTORS¹ | TOTAL SHARES | OPTIONS | OPTIONS |
| Paul Griffiths | 46,871,508 | 4,005,486 | 3,850,000 |
| Ronald Pilbeam | 7,549,794 | 4,005,486 | 3,850,000 |
| Stephen Staley | 669,600 | 1,001,370 | 1,650,000 |
| Louis Castro | Nil | Nil | 1,650,000 |
| Carl Kindinger¹ | 1,661,962 | Nil | Nil |
| Sarah Cope | Nil | 1,001,370 | Nil |
¹ Carl Kindinger retired
¹ Sarah Cope resigned
(1) Options issued on
| 1/3 of Options | Gross production from the wells drilled under the Well Participation Agreement between FRAM Exploration Trinidad Ltd and Predator Oil & Gas Trinidad Ltd of 50 BOPD (measured over a consecutive 30 day period) has been achieved. |
| 1/3 of Options | Incremental gross production from a Pilot C02 test of 300 BOPD (measured over a consecutive 30 day period) has been achieved. |
| 1/3 of Options | Incremental total gross production from wells for which the Company receives revenues of 1,000 BOPD (measured over a consecutive 30 day period) has been achieved. |
(2) Options issued to Executive Directors on
Injection/Sequestration of
achieved at the CO2 EOR Pilot Project under the Well
Participation Agreement between Predator Oil & Gas
Trinidad Ltd and FRAM Exploration Trinidad Limited
dated
OR
A production test at AT-5X has flowed First Oil.
OR
An average daily increase of 75% in Oil Production at AT-12
measured against historical production at AT-12 over the
period 1 January /
injection at AT-4 Block commencing
(3) Options issued to non-Executive Directors on
Total Options and Warrants on issue
Following the issuances of the options announced herein, the total options and warrants outstanding in the Company are as follows:
|
| OPTIONS 18 May 2018¹ | OPTIONS 27 October 2020² | WARRANTS³ |
| Directors | 10,013,712 | 11,000,000 | Nil |
| Advisers and others | Nil | Nil | 10,854,761 |
(1) 18/5/18 options are exercisable at
(2) 27/10/20 options are exercisable at
(3) Warrants include warrants issued to Company advisers and warrants issued to Arato Global Opportunities LLC at an exercise price of
If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be
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
|
|
|
|
| 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
|
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
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Quick facts: Predator Oil & Gas Holdings PLC
Price: -
Market: LSE
Market Cap: -
Follow
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
FOR OUR FULL DISCLAIMER CLICK HERE
