Business
Interim Financials for 6 months to 30 June 2021
Interim Financials for 6 months to 30 June 2021.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4927Q\n Predator Oil & Gas Holdings PLC\n 28 October 2021\n \n \n \n \n Predator Oil & Gas Holdings Plc\n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n \n \n \n \n Report and Interim Financial Statements for the 6 months to 30 June 2021\n \n \n \n \n Financial highlights:\n \n \n \n \n · \n Loss from operations for the 6 months period is £929,089 (2020: full year Loss of £1,689,521). \n \n \n · \n Cash balance, at period end of £2,258,567 (2020 year end: £1,325,751). \n \n \n · \n A further £1,083,298 (US$1,500,000) held as restricted cash and £487,477\n by way of a loan to FRAM Exploration Trinidad Ltd. for the investment in the Pilot CO2 EOR Project\n .\n \n \n · \n Fully-funded for Morocco drilling programme and Pilot CO2 EOR Trinidad.\n \n \n · \n £3,285,000 (before expenses) raised through two over-subscribed Placings.\n \n \n · \n 1,020,000 warrants issued exercisable at £0.105 before 12 March 2025.\n \n \n · \n 600,000 warrants issued exercisable at £0.157 before 18 June 2025.\n \n \n · \n No debt\n \n \n \n \n \n Operational highlights:\n \n \n \n \n \n · \n MOU-1, first exploration well for 35 years in Guercif Basin, Morocco commences on schedule.\n \n \n · \n Initial drilling confirms extension of gas-producing Rharb Basin into Guercif Basin.\n \n \n · \n Significant gas readings encountered whilst drilling.\n \n \n · \n Phase 3 of Trinidad Pilot CO2 EOR Project commenced and 469 metric tonnes of anthropogenic CO2 injected.\n \n \n · \n Changes in CO2 injection parameters result in an accelerated reservoir pressure increase of up \n \n \n to 4 months ahead of pre-injection forecasts.\n \n \n · \n Exclusivity over surplus liquid CO2 supply extended until 2023.\n \n \n · \n Submission made to Cork County Council Development Plan to highlight role of the Mag Mell \n \n \n FRSU Project in the context of security and diversification of Ireland's energy supply.\n \n \n \n \n \n Post reporting date: \n \n \n \n \n \n · \n MOU-1 completed for subsequent rigless testing.\n \n \n · \n Six zones selected for perforating within the pre-drill seismic amplitude \"bright spot\"\n \n \n · \n Re-correlation of...