February oil sales and strengthening oil price

Predator Oil & Gas Holdings PLC

23 March 2026

 

FOR IMMEDIATE RELEASE

23 March 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")

                                    February oil sales and strengthening oil price    

Highlights

·    Cumulative gross oil sales for February US$337,071

·    Forecast March oil sales price expected to be 25 to 35% higher

·    BON-20 logged over three separate oil zones

·    Well interventions and increased swabbing frequency to enhance production

·    Aggressive back-to-back drilling programme being evaluated to increase production coinciding with oil price spike

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with hydrocarbon operations focussed on production in Trinidad and appraisal and near-term development in Morocco, announces gross sales revenues from production for the month of February from its four oil fields onshore Trinidad.

Field	Barrels sold	US$/barrel	Total US$ gross revenue
Goudron	4360		197,378
Inniss-Trinity	3912		95,377
Icacos	277		16,679
Bonasse¹	459		27,637
CUMULATIVE	9,008	60.213	337,071

¹ Out of 1,077 barrels produced during February - balance to storage

During February two new development wells, BON-18 and 19, have been drilled and completed in the Bonasse field and are online and producing.

Six offline wells in the Inniss-Trinity and Goudron fields have been brought back on production.

Forward plan

The new infield development well BON-20 has been logged and completed for perforating in several zones.

6 well workovers are planned in the Inniss-Trinity and Goudron fields.

A schedule for increasing the frequency of swabbing cycles and the number of wells being swabbed has been put in place.

Jacobin-1 will be added to the swabbing programme as soon as the scheduling of a workover rig permits.

New development well locations for the Bonasse field are being evaluated to support a back-to-back drilling programme to maximise rig use whilst mobilised on site. 

Scheduling of the SC-3 Snowcap appraisal/development well is progressing as previously guided.

The current strengthening of oil price on the global markets is expected to see the February sales oil price for March increase by 25 to 35%, if current pricing trends persist in the short term.

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

 "We continue to focus on development drilling activity in Trinidad and enhancing production to capture increased sales revenues during the current spike in oil prices. Increased sales revenues and profits allows us to bring forward the utilisation of legacy tax losses to reduce our Petroleum Profit Tax  to an effective rate of 12.5% ."

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.

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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