Business
Operational update and commencement of oil sales
Operational update and commencement of oil sales.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n \n24 March 2025\n \nPredator 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 \nOperational update and commencement of oil sales\n \n \n· CEG Trinidad acquisition progressing on schedule through regulatory process\n \n· Adds 272 bopd on completion\n \n· Bonasse oil off-take agreement executed and oil sales to commence\n \n· Bonasse Production and Field Services Management Agreement executed\n \n· Company receives a royalty of 30% on gross sales revenues with no cost exposure\n \n· Bonasse workover programme underway and building to 35 bopd initial target\n \n· SGN thermo-chemical wax treatment received regulatory approval for use in Trinidad\n \n· Jacobin-1 workover will be the first test of the SGN patented technology in Trinidad\n \n· Monitor well performance to evaluate whether Saudi Arabian experience of 3-fold increase in oil flow rates can be replicated\n \n· Perforating the MOU-3 shallow higher pressure gas onshore Morocco\n \n· Prepare farmout package for 3D seismic and an updip well on the Titanosaurus structure based on new insights following assessment of MOU-5 drilling results\n \n· Fully-funded for all 2025 firm commitments\n \n· Production revenues are excess discretionary cash\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 announce an operational update and commencement of oil sales.\nBonasse Field\nRestoration of oil field facilities and Bonasse-Steeldrum Oilfield throughput Services Agreement\n· In-field gathering infrastructure and oil storage tanks have been brought back into service.\n \n· A throughput and services agreement has been signed by the Company with Steeldrum Oilfields South Erin Trinidad Limited (\"Steeldrum\") that allo...