End of Year Operations Update

Predator Oil & Gas Holdings PLC

17 December 2025

 

FOR IMMEDIATE RELEASE

17 December 2025

                          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")

                                                 End of year operations update

Highlights

·    27,175 barrels oil produced to date

·    Gross revenues US$806,051 to date

·    Net Predator revenues averaging US$100,405 per month

·    First fully funded infill development well in Trinidad drilled and tied in

·    Fully-funded for up to 12 infill development wells and 14 heavy workovers in 2026

·    Forecast up to 1,000 bopd and 5- to 10-fold increase in monthly revenues by end 2026

·    Final stages of partnership building and financial engineering for FID for gas appraisal and development

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with producing hydrocarbon operations focussed on Trinidad and Morocco, is pleased to announce an end of the year operations update.

Onshore Trinidad

2025 progress

·    Cumulative oil production up at 27,175 barrels at 30/11/25  (452 barrels at 01/01/25).

·    Cumulative sales oil up at 25,300 barrels at 31/10/25  (0 barrels at 01/01/25).

·    Cumulative gross revenues up at US$806,051 at 31/10/25  (US$0 at 01/01/25).

·    Cumulative Predator net revenues up at US$200,810 at 31/10/25  (US$0 at 01/01/25).

·    Daily oil production up at 308 bopd at 30/11/25 (4 bopd at 01/01/25).

1.    Execution of Production and Field Services Management Agreement with NABI Construction ("NABI").

Predator has no exposure to current and future field operating and employee costs and does not have to provide any working capital for drilling and heavy well workovers, for the assets operated by NABI.

Predator receives 30% of gross sales revenues from existing production less taxes and royalties  and 15% of new production until recovery of NABI costs, thereafter 30% of net sales revenues.

This provides for more efficient utilisation of legacy tax losses acquired following restructuring of the companies acquired in 2025.

2.    Bonasse field oil sales point established at South Erin field.

3.    Two existing Bonasse field wells restored to production and a new shallow infill development well BON-16 drilled in November and put on production.

4.    Increased Bonasse field production by 220 % since 30 October 2025.

5.    Increased production from Goudron, Inniss-Trinity and Icacos fields by 5% between 1 September and 31 October 2025 through better field management.

Focus to date on improving infrastructure and access roads to areas with wells selected for heavy workovers and sites for infill drilling, and on ordering well inventory.

6.    All fields are now returned to profitability after significant reductions in licence management and administrative costs through consolidation.

7.    Predator management team can now focus on developing and planning new, high value opportunities to drill under the  Production and Field Services Management Agreement and on reviewing any new M & A opportunities.

2026 fully-funded forward programme

January

BON-17 second infill development well due to commence at the end of 2025 will be tied into production.

First of 13 heavy well workovers in Goudron and Inniss-Trinity fields expected to commence.

February

Goudron infill development well expected to commence - targeting up to 200 bopd.

March

Snowcap-1 re-entry and well workover -  targeting 80 to 200 bopd.

April to May

Snowcap-3 appraisal well to commence to test 3 reservoirs producing in the adjacent Moruga

West field for over 50 years - targeting stabilized initial production of up to 400 bopd.

Snowcap-1 originally tested 1,100 to 1,450 bopd from the Herrera #8 Sand.

May

Re-start the Bonasse infill development well programme with up to 10 new shallow wells.

 2026 outlook

The programme of infield development drilling, heavy workovers of old production wells and Cory Moruga appraisal/development drilling is targeting increasing current production to 1,000 bopd on exiting 2026.

Using 2025 actual Predator net revenue receipts this is forecast to generate between a five to ten fold increase in monthly production revenues depending on a successful outcome to operations and the prevailing oil price (average monthly Predator share of sales revenues for September and October 2025 US$100,405).

Onshore Morocco

2025 progress

·    MOU-3 rigless testing of the shallow "A" Sand  verified for the first time the extent and causes of formation damage linked to the original drilling programme.

It validated the NuTech interpretation of gas saturations and gas shows seen whilst drilling before mud weight was increased to shut off gas inflow into the well.

It provided the data necessary to ensure that appraisal/development wells can be programmed to mitigate against formation damage to enure maximum possible stabilised gas flow rates from the NuTech-interpreted gas reservoirs.

·    Focus for initial appraisal and potential development  is confined to the section above 950 metres in MOU-3 in the structure penetrated by MOU-1 and MOU-3.

On this basis discussions with two parties are ongoing on the basis of a fully-funded CNG and/or micro-LNG development.

·    A request with agreed terms for an Amendment No.5 to extend the First Extension Period of the Guercif Petroleum Agreement from 5 March 2026 to 5 November 2026 has been submitted.

This will allow time for a programme of work to be completed to potentially support an application for an Exploitation Concession in 2026.

·    MOU-5 was successfully drilled to 1,137 metres and logged using improved drilling practices deployed by the Company's new drilling team to significantly minimise over-balanced drilling.

MOU-5 was drilled under budget.

A helium show was encountered that supported the pre-drill helium generation and migration concept.

Mobilised Triassic salt from a depth below the well was unexpectedly penetrated.

MOU-5 is a potentially play-opening well for a deeper Triassic TAGI reservoir target that is expected to have good reservoir properties based on a 100-foot Jurassic sand encountered at the base of MOU-5.

 2026 forward programme

January/February

An updated Independent Technical Resources report ,which will take into consideration the studies completed in 2025, is likely to uplift gas resources for the MOU-1 and MOU-3 structure.  

Validation of the NuTech interpretation of gas saturations is also likely to significantly increase potential for prospective gas resources beyond the limits of the MOU-1 and MOU-3 structure in the interval down to 950 metres.

A fully-funded Environmental Impact Assessment will be commenced for a CNG/micro-LNG development together with a preliminary Front End Engineering Design concept.

Desktop well design and drilling programme will be finalised for an appraisal/development well.

The purpose of the fully-funded desktop work during this period is to ensure that the Company and its shareholders get the best possible mutually acceptable terms in commercial negotiations to monetise the discovered gas with the existing entities agreeing to join the Company in a potential FID and development programme.

A successful application for an Exploitation Concession in 2026 will crystalise the considerable value currently assigned to the discovered gas in Guercif licence area.

2026 Outlook

The Company is fully committed to partnering up for potential appraisal and scalable development of its discovered gas in the MOU-1 and MOU-3 structure.

Subject to a final agreement that incorporates a funding mechanism for an appraisal and development programme the Company will pursue its schedule to complete the work necessary for an application for an Exploitation Concession by the end of Q3 2026.

Offshore Ireland

The Company notes that Ireland has recognised security of gas supply and gas storage as a critically important issue by announcing the proposed State-owned FSRU concept as a future strategic national gas reserve.

The Company believes that the concept, which includes a jetty and an onshore pipeline and terminal, will only only be realised after several years based on the historical Corrib gas terminal planning and environmental experience.

Far more practical, and likely to be delivered in a shorter timeframe, is an offshore FSRU facility linked to a subsurface storage reservoir in one of the very few remaining oil and gas licences offshore Ireland.

This could be a public/private sector joint facility combining a strategic gas storage reserve with a commercial business to minimise or eliminate the cost to the consumer so as not to further exacerbate the cost of living crisis, which is linked to energy affordability all-year-round.

The Company intends to make an application in early 2026 to the Department of Climate, Energy and the Environment under Ireland's Freedom of Information Act to compile all internal documents relating to the award of the Corrib South successor authorisation.

The results should be interesting and revealing of the protracted procedural process that has been drawn out for over 7 years, contrary to any reasonable industry expectations of acting in good faith.

Paul Griffiths, Chief Executive Officer of Predator, commented:

"By the end of 2025 we have eliminated our exposure to field operating costs and the requirement for capital to grow our production and revenues in Trinidad and returned our acquired assets to making an operating profit through astute restructuring of local companies and application of legacy tax losses. 

The fully-funded programme to significantly increase production has commenced already and will accelerate through the first half of 2026, with up to 12 new wells and 14 heavy workovers currently scheduled.

Senior management is freed up from administrative burdens to focus on generating new high-value drilling opportunities in the Trinidad acreage.

In Morocco we have reached a position after the 2025 work programme where we can now leverage our position in discovered gas to secure a partnership for funding for an appraisal and potential development programme.

The oil and gas sector outside of Europe, where the Company prefers to operate, is showing a marked pick-up in exploration and development and M & A activity. This is in marked contrast to most of western Europe and the UK, which is suffering from a security of energy supply issue and cost of living crisis due to lack of investment in developing indigenous gas. We have no such investment constraints in the jurisdictions we operate in, where hydrocarbons, especially gas, are viewed as key ingredients to a much longer-term and more credible, less economically painful, energy transition process.

We thank our shareholders for their support during a year that has seen extremely challenging public market conditions for the oil and gas sector in general. We look forward to 2026 turning sentiment around."

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	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

 

END