Business
Operational Highlights (MOU-1) and Placing
Operational Highlights (MOU-1) and Placing.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9105A\n Predator Oil & Gas Holdings PLC\n 04 June 2021\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 4 June 2021\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n LEI 213800L7QXFURBFLDS54\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 Operational highlights (MOU-1 drilling) and Placing to raise 1.5 million\n \n \n \n \n \n Operational highlights \n \n \n • \n MOU-1 estimated spud date between 15 - 27 June 2021\n \n \n \n \n \n • \n Drilling estimated to take 14 to 20 days\n \n \n \n \n \n • \n MOU-1 site construction and civil works nearly complete\n \n \n \n \n \n • \n Rig contract with Star Valley executed\n \n \n \n \n \n • \n Schlumberger Master Services Agreement executed\n \n \n \n \n \n • \n All well services and logistical support in place\n \n \n \n \n \n • \n Well costs in line with budget forecasts\n \n \n \n \n \n • \n Pre-drill geological expectations firmly remain as previously reported \n \n \n \n \n \n • \n CO2 EOR injection continuing as planned in Trinidad despite COVID restrictions\n \n \n \n \n \n Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland is pleased to announce that it has conditionally placed\n 10,000,000 \n \n new ordinary shares of no par value in the Company (the \"Placing Shares\") at a placing price of 15 pence each (the \"Placing Price\") to raise £1,500,000 before expenses (the \"Placing\").\n \n \n \n \n \n The Placing was significantly oversubscribed and utilises the Company's existing headroom shares under the Financial Conduct Authority restrictions for companies\n on the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities\n . \n \n \n Novum Securities are acting as sole placing agents to the Company.\n \n \n Use of Proceeds\n \n \n During the past few months the Company has made significant progress in developing additional business opportunities.\n \n \n The previously announced submission in response to the call for an Expression o...