Business
Interim Results
Interim Results.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5106A\n Predator Oil & Gas Holdings PLC\n 30 September 2020\n \n \n \n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 30 September 2020\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\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 2020\n \n \n \n \n \n \n Financial highlights:\n \n · Loss from operations of £0.784 million (2019: full year Loss of £1.279 million).\n \n · Cash balance, at period end of £2.098 million (2019 year end: £0.109 million).\n \n · A further £1.221 million (US$1.5 million) held as restricted cash and £0.396 million by way of a loan to FRAM Exploration Trinidad Ltd. for the investment in the Pilot CO2 EOR Project.\n \n · Fully-funded for Morocco drilling programme and Pilot CO2 EOR Trinidad\n \n · £4.008 million (before expenses) raised through two over-subscribed Placings\n \n · \n 4,450,000 warrants issued exercisable at £0.04 before 27 February 2023.\n \n \n · \n Redemption in full of outstanding principal balance of £746,000 Arato Convertible Loan \n \n Operational highlights\n \n \n · \n Phases 1 and 2 of Pilot CO2 EOR Project successfully executed\n \n \n · \n Exercised rig option with Star Valley drilling without entering into any financial liabilities\n \n \n · \n Bids received for MOU-1 well services and logistical support \n \n \n · \n Additional high-impact MOU-4 Prospect identified with over 1 TCF of additional potential \n \n \n prospective gas resources (management estimates)\n \n \n · \n Predator LNG Ireland formed, and LNG Business Plan initiated\n \n \n \n \n \n Post reporting date: \n \n \n \n \n \n · 99% increase in pre-injection primary production rate for CO2 EOR monitoring well\n \n · Company calculates 1,047 barrels of enhanced oil production has accumulated for its \n account under the terms of the Well Participation Agreement with FRAM Exploration Trinidad\n \n · \n Competent Persons Report on the MOU-4 Prospect commissioned\n \n \n · \n \n...