Business
Operational Update
Operational Update.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n \n6 May 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 Operational update and extension for completion of CEG Trinidad acquisition\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 provides an operational update.\n \nTrinidad\n \nAcquisition of CEG Trinidad\n· In February 2025 the Company entered into an agreement to acquire the entirety of the Challenger Energy (\"CEG\") operations in Trinidad and Tobago (\"CEG Trinidad\") as referred to in the Company's RNS of 18 February 2025.\n· The agreement for the acquisition provided for the regulatory approval necessary for closing of the sale transaction to be finalised by 30 April 2025. The Company and the seller have agreed to a 60-day extension for completion of the sale, to 30 June 2025 following administrative closing uncertainty due to the snap-elections called in Trinidad in mid-March. The resulting election held on 28 April 2025 led to a subsequent change of Government.\nBonasse field\n· Well workovers are continuing into next month. The field has experienced positive increases in production ranging from between 50 to 100% in the worked over wells.\n· The intention is to start infill drilling under the Field Services and Production agreement between the Company and the Company's Operations contractor.\nThe Operations contractor has identified the new development wells to be drilled based upon the workover project results.\nCory Moruga Exploration and Production Licence\n· Snowcap-3 appraisal well planning has commenced.\nSite Preparation work and permitting has begun for the appraisal well, which is scheduled for the 4th quarter this year.\nRig Operator negotiatio...