Morocco – Commencement MOU-6 drilling operations
Summary by AI BETAClose X
FOR IMMEDIATE RELEASE
21 September 2026
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company")
Morocco - Commencement of MOU-6 drilling operations
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey-based Oil and Gas Company with producing hydrocarbon operations and exploration activity focussed on Trinidad and Morocco, announces the following update.
The MOU-6 well commenced drilling on 19 September 2026.
Well operations are planned to last for up to 20 days.
Information on the MOU-6 objectives can be found in the Independent Technical Resources Report, referenced in the RNS dated 11 June 2026, which can be found on the Company's website at www.predatoroilandgas.com/investors/ .
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:
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Predator Oil & Gas Holdings Plc Paul Griffiths Chief Executive Officer
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Tel: +44 (0) 1534 834 600 |
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AlbR Capital Limited David Coffman / Jon Belliss OAK Securities
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Tel: +44 (0)207 469 0930
Tel: +44 (0) 20 3973 3678
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Flagstaff Strategic and Investor Communications Tim Thompson Alison Alfrey Fergus Mellon
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Tel: +44 (0)207 129 1474 |
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 by the Company as having the best hydrocarbon potential and remains a key focus for the Company and its shareholders for further appraisal and potential development. 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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