Technical Report for Cory Moruga onshore Trinidad

Predator Oil & Gas Holdings PLC

05 March 2026

 

FOR IMMEDIATE RELEASE

5 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")

                     Independent Technical Report ("ITR") for Cory Moruga onshore Trinidad    

Highlights

·    2P resources of 8.73 MM bls

·    Project economics based on US$60/bo

·    SC-3 drilling plans proceeding as planned

·    BON-20 well programme, objectives and progress as planned

·    Programme 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 that further to the release of 25 February 2026 in respect of an operations update for Trinidad, the Company is publishing today (see link below) the Independent Technical Report ("ITR") by Scorpion Geoscience Ltd. for the proposed Snowcap-3 well ("SC-3") appraisal well in the Cory Moruga Exploration and Production Licence.

https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2026/03/PRD_Trinidad_CM_Snowcap3_ITR-05-03-2026.pdf

Following the management team's site visit to Trinidad last week, initial site and land registry investigations for two locations for an SC-3 and a potential follow-up SC-4 well commenced.

Star Valley Rig 205 was viewed and assessed at its current site by the Company's corporate operations manager.  

The BON-20 drilling programme, objectives and current progress were reviewed.

A further update will be issued after the completion and anticipated testing of BON-20.

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

 "We are making good progress on preparations to drill an SC-3 appraisal well, that in a success case and subject to regulatory approval can be put on production within a relatively short time framework. The publication of the ITR, which is based on US$60/bo, is timely given the current spike in oil prices and the prospect of continuing conflict within a key area contributing to global hydrocarbon production."

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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