Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company with operations in Trinidad, Morocco and Ireland - Conditionally raises GBP1.8 million through placing of 17 million shares at a price of 10.5 pence each. Funds will go towards providing a contingency for the rise in Morocco's MOU-1 well costs occasioned by the 12-month long Covid-19 pandemic, as well as commission a Front End Engineering Study of the supply of compressed natural gas.
Funds will also go towards developing a new carbon dioxide EOR project in a different onshore oil field in Trinidad
Current stock price: 11.76 pence, down 7.8% on Friday
Year-to-date change: up sharply from 3.80p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Predator Oil (PRD)