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12 May 2022 20:39
IN BRIEF: Predator Oil & Gas fully funded for activities in Morocco
Predator Oil & Gas Holdings PLC - operator in Trinidad, Morocco and Ireland - Says executing the Moroccan drilling programme simultaneously with the MOU-1 rigless testing remains at the "forefront" its business development plans. Rigless testing of MOU-1 will be aligned with the presence of in-country drilling services, materials and equipment mobilised from overseas for the start of the 2022 drilling programme. Further, MOU-4 and MOU-5 wells are seeking to prove up the currently defined best estimate gross contingent gas resources of 295 billion cubic feet, net attributable to Predator's 75% interest, which is based on a conservative 66% gas recovery over 13 years. Advisor SLR Consulting Ireland Ltd indicated a high estimate of 708 BCF net attributable to Predator's 75% interest based on a higher gas in place estimate for thicker reservoirs that are the targets for these wells, it explains. Company adds is fully-funded to meet all the above well planning and preparation activities in Morocco.
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