Predator Oil & Gas Holdings Plc has revised its drilling agreement with Intrepid Drilling, extending the availability of Rig 101 for operations at the MOU-6 well in Morocco from 1 August through 1 October 2026. The rig, which is currently stationed at the MOU-5 location, will support a three-month drilling and potential testing campaign targeting the MOU-6 gas prospect in Morocco before moving to the Snowcap-3 oil well in Trinidad.
Chief executive Paul Griffiths said the company has dedicated the past 15 months to strengthening its well delivery capabilities across several regions, ensuring drilling plans are more closely aligned with anticipated geological conditions. He added that positive drilling and testing results at MOU-6 and Snowcap-3 could significantly reduce development risk, paving the way for faster production opportunities, subject to regulatory approvals and due diligence. The programme supports Predator’s objective of commercialising its Moroccan gas assets while increasing oil production from its Trinidad portfolio over the near term.
Despite operational progress, Predator continues to face financial challenges, including significant losses, negative profit margins and ongoing cash outflows. These weaknesses have been partly offset by stronger revenue growth and a relatively low level of debt. Market indicators remain broadly neutral, with limited technical momentum, while valuation metrics are constrained by the absence of positive earnings and dividend yield data.
About Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas exploration and production company listed on the London Stock Exchange. Its core operations are focused on onshore projects in Morocco and Trinidad, where it is developing gas and oil assets with an emphasis on efficient production and long-term growth. In Morocco, the company is advancing gas projects that could support compressed natural gas (CNG) or micro-LNG developments, while its Trinidad portfolio is centred on increasing output from mature onshore oil fields through production optimisation, infill drilling and the use of historic tax losses.
Predator’s business model is designed around maintaining a lean operating structure while drawing on experienced technical, financial and legal expertise with extensive local knowledge of both Morocco and Trinidad. The company plans to accelerate Moroccan gas development by taking advantage of existing export infrastructure, while expanding Trinidad production through cost-effective technologies and a Master Services Agreement that allows field operations to be outsourced while retaining a share of gross production revenues.
