REG - Predator O&G Hldgs - Result of Annual General Meeting

Predator Oil & Gas HoldingsAnnouncement

16/05/2024 11:00

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RNS Number : 7281O  Predator Oil & Gas Holdings PLC  16 May 2024

FOR IMMEDIATE RELEASE

16 May 2024

 

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil
& Gas

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries the "Group")

 

 
Result of Annual General Meeting

 

At the Annual General Meeting of Predator Oil & Gas Holdings Plc (PRD),
held earlier today, all resolutions were duly passed.

 

 Resolution No.                       For         % of votes cast  Against    % of votes cast
 1.   Receive the 2023 Accounts       86,358,104  98.93            935,348    1.07
 2.   Re-appointment of Auditors      85,975,493  98.11            1,653400   1.89
 3.   Allotment of Ordinary Shares    84,342,108  96.24            3,292,830  3.76

 

For further information visit www.predatoroilandgas.com (about%3Ablank)

 

Follow the Company on X @PredatorOilGas.

 

This announcement contains inside information for the purposes of Article 7 of
the Regulation (EU) No 596/2014 on market abuse

 

For more information please visit the Company's website
at www.predatoroilandgas.com (about%3Ablank) :

 

Enquiries:

 Predator Oil & Gas Holdings Plc                                                                                                                                                                                                                                                                        Tel: +44 (0) 1534 834 600

 Paul Griffiths                Executive Chairman                                                                                                                                                                                                                                                       Info@predatoroilandgas.com (about%3Ablank)

 Lonny Baumgardner    Managing Director

 Oak Securities

 Jerry                                                                                                                                                                                                                                                                                                  Tel: +44 (0)203 973 3678
 Keen

                                                                                                                                                                                                                                                                                                      Jerry.keen@oak-securities.com
 Novum Securities Limited

                                                                                                                                                                                                                                                                                                      Tel: +44 (0)207 399 9425
 David Coffman / Jon Belliss

 Flagstaff Strategic and Investor Communications                                                                                                                                                                                                                                                        Tel: +44 (0)207 129 1474

 Tim Thompson                                                                                                                                                                                                                                                                                            predator@flagstaffcomms.com (about%3Ablank)

 Mark Edwards

 Fergus Mellon

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary and Jurassic gas.  The current focus of the
exploration and appraisal drilling programme is located less than 10
kilometres from the Maghreb gas pipeline.  The MOU-1 well drilled in 2021 and
the MOU-3 and MOU-4 wells drilled in 2023 have been completed for rigless
testing in early 2024. Near-term focus is on supplying compressed natural gas
("CNG") to the Moroccan industrial market. A Collaboration Agreement for
potential CNG gas sales of up to 50 mm cfgpd has been executed with Afriquia
Gaz. Further drilling activity is anticipated in 2024 to further evaluate the
MOU-4 Jurassic prospect.

 

Predator is seeking in the medium term to apply CO2 EOR techniques onshore
Trinidad which have the advantage of sequestrating anthropogenic carbon
dioxide. The acquisition of T-Rex Resources (Trinidad) Ltd. ("T-Rex") is a
first step to realising this objective. T-Rex holds the Cory Moruga Production
Licence. Cory Moruga is a largely undeveloped near-virgin oil field of similar
potential size to the nearby Moruga West and Inniss-Trinity mature oil fields.
The Cory Moruga Production Licence is a potentially significant asset for the
Company with the capability of generating positive operating profits in the
near-term. Capital required for staged field development can be implemented
potentially utilising operating profits generated from an increasing level of
gross production revenues.

 

Predator owns and operates exploration and appraisal assets in licensing
options offshore Ireland, for which successor authorisations have been applied
for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic
Margin and east of the decommissioned Kinsale gas field in the Celtic Sea. The
applications for successor authorisations remain "under consideration" by the
DECC.

 

Predator has developed a Floating Storage and Regasification Project ("FSRUP")
for the import of LNG and its regassification for Ireland and is also
developing gas storage concepts to address security of gas supply and
volatility in gas prices during times of peak gas demand.

Further progress for the Mag Mell FSRUP will be dependent on government policy
in relation to security of energy supply. A generalised FSRUP concept has now
been recognised by the government as an option for security of energy supply.

 

The Company has a small but highly experienced management team with a proven
track record in successfully executing drilling operations in the oil and gas
sector and in acquiring assets where there is a potential to generate multiple
returns for relatively low and manageable levels of investment.

 

 

 

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