Commencement of Trinidad drilling programme

Predator Oil & Gas Holdings PLC

22 January 2026

 

FOR IMMEDIATE RELEASE

22 January 2026

 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")

Commencement of Trinidad drilling programme

Highlights

·    BON-18 commenced in Bonasse Field 

·    Expected to take two weeks to drill

·    Next well BON-19 to prove up BON-14 producing trend

·    5 to 7 shallow development wells in Bonasse to follow BON-19

·    6 - 8 Heavy Workover programme commencing in Goudron field in February

·    Combined programmes forecasted to add between 300 and 400 bopd

·    Ties into existing production facilities and sales arrangements

·    Culminates in drilling Snowcap-3

·    Recent funding ensures Company retains 100% of substantial flow rate potential

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with producing hydrocarbon operations focussed on Trinidad and Morocco, announces that drilling operations under the Master Services Agreement (the "MSA") with NABI Construction ("NABI") commenced in the Bonasse field on 20 January 2026 with the first well in a multi-well programme, BON-18 (previously designated TPD-CD1).

BON-18 is a redrill of the legacy production well BON-2, which has damaged casing. This is a deeper well to approximately 1,800 feet which is expected to take two weeks to drill on current pre-drill forecasting. The primary objectives are two zones from which good legacy production was achieved.

On completion of BON-18 drilling operations and the tie in of new production the NABI drilling rig moves on to the exploratory well BON-19. This BON-19 well will be the proof of concept for the very shallow BON-14 ("Saffron") trend. The Company  anticipates that between 5  and 7 shallow development wells will be drilled following this trend such that upon completion of this phase of drilling operations in the Bonasse field  between  200 and 300 bopd of new production will be added through existing facilities and oil sales arrangements.

In the Goudron field a 6-8 Heavy Workover Program shall commence by next month, with the expectation of yielding an additional 100 bopd of new production through existing facilities and oil sales arrangements.

This additional production shall be supplemental to, and contemporaneous with, with the main Snowcap-3 appraisal and development well programme in the Cory Moruga Block forecast to commence in Q2 2026.

                                                                        

                                             Commencement of BON-18 drilling operations

Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:

"We are entering an intense period of operational activity over the next 3 months in Trinidad which at the end of which could potentially double our current production output.

We have chosen the option to fund, operate and drill the Snowcap-3 appraisal/development well on a 100% basis as our wholly owned subsidiary (T-Rex Resources) is the exclusive Operator of the Cory Moruga block, where we shall  demonstrate our in-house operational capabilities to ensure we are well-placed and qualified to acquire any new attractive opportunities that may or may not become available long-term."

For further information visit www.predatoroilandgas.com

Follow the Company on X @PredatorOilGas.

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 Paul Griffiths                Chief Executive Officer	Tel: [phone] [e-mail]
AlbR Capital Limited David Coffman / Jon Belliss OAK Securities Jerry Keen / Calvin Mann	Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Alison Alfrey Fergus Mellon	Tel: [phone]  [e-mail]

Notes to Editors:   

Predator is an oil & gas company with a portfolio of assets including unique and highly prospective onshore Moroccan gas exposure and production, appraisal and exploration projects onshore Trinidad.

Morocco offers a potentially faster route to commercialisation of shallow biogenic gas through a CNG or micro-LNG development. The structure penetrated by the MOU-1 and MOU-3 wells is currently defined as having the best potential for an application for an Exploitation Concession in 2026. The Company is committed to partnering with entities capable of supporting a future development decision and who have already identified the opportunity as one warranting the execution of a Collaboration Agreement and a Memorandum of Understanding. Moroccan gas prices are high, and the fiscal terms are some of the best in the world. The presence of gas export infrastructure adjacent to the MOU-1 and MOU-3 structure allows for a scalable gas development after initial CNG or micro-LNG gas production over time establishes the extent of connected gas volumes and the capability of reservoirs to deliver at plateau rates over time.    

Trinidad offers the security of a mature onshore oil province that has been producing hydrocarbons for over 50 years. Predator has assembled a portfolio of onshore producing fields with opportunities for production enhancement and additional infill development and appraisal drilling. Significant legacy tax losses, economies of scale and the application of new low-cost technologies are factors that can improve profit margins per barrel of oil produced.  A Master Services Agreement with local operator NABI Construction relieves the Company of the burden and costs of operating the fields and executing drilling and heavy well workovers. In return the Company receives 30% of gross sales revenues for which it can use its acquired tax losses to substantially reduce Petroleum Profit Tax from 50% to an effective rate of 12.5%.

Predator has an experienced technical, financial and legal management team with particular knowledge of the Moroccan and Trinidad sub-surface and operations and an ability to complete M & A transactions in Trinidad and receive regulatory approvals in a timely manner and without any unnecessary advisory fees for transactions.  The Company's strategy is to operate at a much reduced overhead compared to other operators with portfolios of assets of similar extent to maintain competitiveness.

Predator Oil & Gas Holdings plc is listed on the Equity Shares (transition) category of the Official List of the London Stock Exchange's main market for listed securities (symbol: PRD).

For further information, visit www.predatoroilandgas.com

 

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