Business
Operations Update and Directorate Changes
Operations Update and Directorate Changes.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 12 May 2022\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n \n Predator Oil & Gas Holdings Plc\n \n \n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n \n \n \n \n \n \n \n \n Operations update and directorate changes\n \n \n \n \n Highlights \n \n \n \n ·\n Purchase orders being issued for sourced long-lead well items, including 4 wellheads\n \n \n \n \n \n ·\n Schedule for rigless testing MOU-1 to be aligned with mobilisation of drilling services\n \n \n with option to include additional shallower sand for perforating\n \n \n \n \n \n ·\n Environmental Impact Assessment for MOU-4, MOU-5 and MOU-NE well locations approved\n \n \n \n \n \n ·\n Civil works contract awarded to build first well location\n \n \n \n \n \n ·\n Star Valley rig option secured as previously negotiated for MOU-1 drilling contract\n \n \n \n \n \n ·\n MOU-4 and MOU-5 to potentially prove up High Estimate 708 BCF net recoverable\n \n \n \n \n \n ·\n MOU-NE Prospect seismic mapping confirms area of closure of 102 km² for Jurassic target\n \n \n \n \n \n ·\n Fully funded\n to meet all well planning and well preparation activities in Morocco.\n \n \n \n \n \n ·\n Two potential farminees for the Guercif Licence selected from initial responders for further discussions\n \n \n \n \n \n ·\n Company's commercial proposal includes past costs; disproportionate share of costs for 3-well drilling programme and \"Put Option\" to buy out residual project equity\n \n \n \n \n \n ·\n Final information provided to the regulatory authorities for Ram Head and Corrib South applications for successor authorisations prior to a decision being made\n \n \n \n \n \n ·\n Commercial terms provided to FRAM Exploration Trinidad for an asset swap to settle issues relating to the terminations of the Inniss-Trinity Pilot CO2 EOR Project\n \n \n \n \n \n ·\n Green hydrogen option being pursued with initial focus on Romanian opportunities\n \n \n \n \n \n ·\n Board refreshed with two new Non-executive Directors with experience compatible with the medium-term financial requirements of the Company's busines...