Predator Oil & Gas Holdings PLC - operator in Trinidad, Morocco and Ireland - Successfully drills and logs MOU-1 well in Morocco. Drilling plans are being prepared to work on three follow-up wells as early as possible in the first quarter of 2022, allowing a minimum of three months for the import of additional long-lead well items and supply chain delays.
In addition, further prospect for drilling has been identified as MOU-NE, a basic Jurassic target at 1,200 metres drilling depth.
"The "Energy Crisis" and resurgence of gas as a sustainable fuel during the Energy Transition for many years to come has impacted immediate priorities for everyone. Gas assets are now more valuable and the potential to find partners at the project level is greater than it has been for a long time since before the onset of COVID. The fossil fuel industry has contracted and opportunities are now less prevalent. Our decision to maintain high equity levels in our projects has been validated," says Chief Executive Officer Paul Griffiths.
Current stock price: 5.20 pence
Year-to-date change: up 37%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Predator Oil (PRD)