MOU-6 preliminary well testing update
Summary by AI BETAClose X
FOR IMMEDIATE RELEASE
30 October 2026
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company")
MOU-6 preliminary well testing update.
- Successfully perforated from 825.7 to 845.5 metres.
- Combined low permeability and low gas saturations at this location.
- Enriched database facilitates study of interpreted prospective unconventional gas potential.
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.
MOU-6 preliminary well testing update.
The MOU-6 well was successfully perforated under-balanced with the larger 4.5” TCP guns over 19.8 metres of gross upper interval of the TGB-6 Fan from 825.7 to 845.5 metres.
The MDT logging tool recorded a formation pressure of 1195 psi at 813.27 metres depth, that was not fully stabilised.
Nitrogen lift recovered only diesel and brine attributable to the completion fluid used.
There are several possibilities for the lack of inflow from the formation into the wellbore.
- Extreme low permeability of the rock formation at this location – possible.
- Severe Formation Damage (High Skin Factor) – unlikely.
- Mechanical Blockage Downhole if the perforating tunnels collapse in relatively unconsolidated formations – possible.
- Combined low permeability with low gas saturations – more likely.
Post-well desktop and laboratory studies based on the new additional data acquired for this well will investigate the above issues.
MOU-6 and the post-well studies will contribute to the planned independent study of the prospective unconventional gas potential, as interpreted, of the area tested by MOU-1, MOU-3 and MOU-6 through a calibration with the producing areas of eastern Romania and Western Ukraine carried out by those with specific experience in these areas.
The final processed NuTech logs for MOU-6 show very much lower computed permeability, gas saturations and porosities compared to MOU-1, MOU-3 and MOU-4. There is a very close correlation between the NuTech logs for MOU-6 and the observed well performance.
MOU-6 has been suspended to allow for potential deepening of the well to the TGB-4 interval.
Shallow gas shows (up to 2.69%) have been sampled for compositional analysis.
Forward Plan.
MOU-6 satisfied the remaining work programme commitment for the First Extension Period of the Petroleum Agreement.
The six wells drilled to date in what was an undrilled frontier area has established a number of new prospective hydrocarbon plays mainly for the Tertiary. In addition the Jurassic and Triassic remains to be evaluated further. The presence of salt has been established.
Further work is focussed on
- Evaluating the possible potential for unconventional gas through a series of well interventions.
- Costing a programme to deepen MOU-5 to the Trias to assess a potential for thermogenic gas and associated helium.
- Assessing the Jurassic potential for gas and possibly oil in the western part of the licence area.
The licence area is a considerable asset requiring further drilling and 2D and 3D seismic.
An enriched database in a new frontier area has been established. The expertise gathered will be used to align with a partner capable of taking exploration forward as well as investing in further work to determine the potential of a prospective conventional/unconventional gas opportunity.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"We are naturally disappointed that MOU-6 has not delivered in line with pre-drill expectations.
However, the first successful perforation of the target formation and the well data collected is invaluable in terms of helping to calibrate the potential for gas interpreted by NuTech log analysis in MOU-1, MOU-3 and MOU-4.
Emphasis will now concentrate on partner negotiations.
In the meantime the operating team is in the process of transferring to Trinidad, where the Snowcap-3 well is the focus of drilling preparations. The first of two instalments of deferred consideration for the acquisition of the former Challenger Energy Group’s business and assets in Trinidad in 2025 has been completed.”
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 Info@predatoroilandgas.com |
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AlbR Capital Limited David Coffman / Jon Belliss OAK Securities
Crest Corporate Broking* Jerry Keen
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Tel: +44 (0)207 469 0930
Tel: +44 (0) 20 3973 3678
Tel: +44 (0)203 973 3678
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Flagstaff Strategic and Investor Communications Tim Thompson Alison Alfrey Fergus Mellon *Crest Corporate Broking is a trading name of CAL Investments Limited, which is Authorised and Regulated by the Financial Conduct Authority (FRN: 114008).
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Tel: +44 (0)207 129 1474 predator@flagstaffcomms.com |
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 the prospective target and requires further appraisal before any 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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