Predator Oil & Gas Holdings plc has appointed its executive chairman Paul Griffiths as chief executive officer among other changes to board. Former chief operating officer Lonny Baumgardner leaves the board for personal reasons and the post of managing director is removed from the management structure. “The board wishes to thank Mr Baumgardner for his […]
Tag: Guercif – Morocco gas
Predator rigless testing shows damaged formation
Predator Oil & Gas Holdings plc reported damaged formation from phase I rigless testing on the Guercif licence, onshore Morocco. DRILLING MUDS Beginning on 10 February, the company perforated all four zones in wells MOU-1 and MOU-3 to complete on 19 February, with the crews and equipment now demobilised. Predator used conventional 111/16″ perforating guns, […]
Predator awards 2.7m bonus shares to chairman and COO
Predator Oil & Gas (Holdings) plc issued 2,659, 574 shares under the executive directors bonus scheme in recognition of the drilling programme and results onshore Morocco. Executive chairman Paul Griffiths and chief operating officer Lonny Baumgardner each received 1,329,787 1,329,787 shares. The amount, comprising 50% of the executive directors’ overall bonus related to the drilling […]
Predator signs MoU for Guercif gas sales
Predator Oil & Gas Holdings plc has signed a memorandum of understanding for sales of up to potentially 50 million cubic feet of gas per day from Guercif onshore Morocco. FOUNDATION The exclusive one-year MoU, beginning 27 November, with Afriquia Gaz S.A. involves discussing the terms of a legally binding gas sales agreement of compressed […]
Predator operating losses rise on multi-well drilling
Predator Oil & Gas Holdings plc reported more than a three-fold increase in operating losses from drilling for potential additional gas resources onshore Morocco. FINANCES Half-year results to 30 June saw losses of £2,361,721 (H1 2022: £599,789). Cash reserves totalled £1,006,006 (full year 2022: £3,323,161) and restricted cash of £1,188,863 (FY 2022: £1,245,798) as the security deposit for […]
Predator targets minimum £7m via private placing
Predator Oil & Gas Holdings plc aims to raise a minimum £7 million gross via a placing for institutional investors on completion of an accelerated bookbuild process. USES The company, with onshore oil and gas operations in Morocco and Trinidad, will issue new ordinary shares in the capital of the company at a price to […]