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Placing to Raise £3 Million
Predator Oil & Gas Holdings Plc has announced a conditional placing to raise £3 million by issuing 85,714,286 new ordinary shares at 3.5 pence each. The funds will be used for deepening the Snowcap-3 well in Trinidad, reactivating Snowcap-2ST1 and Jacobin-1 wells, purchasing inventory for the MOU-6 well in Morocco, and updating the technical package for the Corrib South prospect offshore Ireland, which has estimated recoverable gas resources between 424.8 (P50) and 904.7 (P10) BCF with a 44% chance of success. Additionally, April net production revenues in Trinidad were 26% ahead of internal forecasts, with approximately US$95,000 received after costs and royalties. Disclaimer*
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n \n15 May 2026\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 Placing to raise £3 million\n \nHighlights\n \n· Potential award of Corrib South offshore Ireland is a new Company development.\nRecoverable gas resources 424.8 (P50) to 904.7 (P10) BCF with 44% Chance of Success. \nAdjacent to Corrib Gas Field infrastructure and addresses Security of Energy Supply.\n \n· Snowcap-3 site works onshore Trinidad have commenced.\n \n· Additional Snowcap-3 production testing programme planned.\n \n· Snowcap-2 and Jacobin-1 well reactivations and feasibility study on gas re-injection to boost production rates.\n \n· MOU-6 well planning and inventory build being progressed to maintain drilling schedule. \n \n· April net production revenues in Trinidad 26% ahead of Company internal forecast.\n \n \n \nPredator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with producing hydrocarbon operations focussed on Trinidad and Morocco, announces that it has conditionally placed 85,714,286 million new ordinary shares of no par value in the Company (the \"Placing Shares\") at a placing price of 3.5 pence each (the \"Placing Price\") to raise £3 million (before expenses) (the \"Placing\").\nThe capital raise of £3m was arranged by the Company's joint brokers AlbR and OAK Securities.\nUse of Proceeds\nThe Proceeds of the Placing, less expenses, will be spent on:\n1. Deepening the proposed Snowcap-3 (...