Predator Oil & Gas Holdings plc has secured a time extension to complete its acquisition from Challenger Energy Group of the Cory Moruga licence, onshore Trinidad.
APPROVAL
The first deadline was for on of before 30 May but completion of the transaction is conditional on consent from the country’s Ministry of Energy and Energy Industries.
Conditions include approval of a revised work programme, revision of future fees, and settlement or cancellation of past claimed dues all relating to the licence.
Predator yesterday said that conditions for completion had not been satisfied by 30 May, and that the new target date would coincide with the long stop date of 31 August 2023.
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