Business
Completion of Acquisition of Challenger Trinidad
Predator Oil & Gas Holdings PLC has completed the acquisition of Challenger Energy Group Plc's subsidiary in Trinidad and Tobago, effective August 29, 2025. Challenger received US$0.5 million in cash upon completion, with deferred payments of US$0.5 million due on August 31, 2026, US$0.25 million on December 31, 2026, and US$0.25 million on December 31, 2027. A Production and Field Services Management Agreement with NABI Construction is in place, granting Predator 30% of gross sales receipts after royalties and taxes from existing production. NABI will execute up to 13 heavy well workovers to enhance current consolidated field production of 285 bopd by up to 40%. Predator will receive 15% of gross sales receipts from incremental production until NABI recovers workover and drilling costs. The company is also in final negotiations to reactivate the T38 Rig to drill Snowcap 3 in early 2026. Disclaimer*
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n \n1 September 2025\n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\nPredator Oil & Gas Holdings Plc\n(\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n Completion of acquisition of Challenger Trinidad and forward plans\n \n Highlights\n \n§ Completion of acquisition of revenue-generating producing assets in Trinidad\n \n§ Revenue-sharing and Field Services Management Agreement executed with immediate effect\n \n§ No exposure to field operating costs or cost of work obligations\n \n§ Carried in 13 heavy workovers and infill drilling\n \n§ 30% of gross current production revenues less royalties and taxes after offset against 75% of tax losses\n \n§ 15% of gross enhanced production revenues until cost recovery of workover and drilling costs, thereafter reverts to 30%\n \n§ Final stages of negotiations with rig contractor for the T38 Rig reactivation and commissioning to drill Snowcap 3 in early 2026\n \n§ Acquisition provides the Snowcap downstream logistical support, additional gathering stations, sales tanks, service equipment, workover rigs, for development and sale of oil into a pipeline entry point.\n \n \nPredator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with near-term hydrocarbon operations and production focussed on Morocco and Trinidad is pleased to advise that the previously announced transaction for the purchase of the entirety of Challenger Ene...