Predator Oil & Gas Holdings PLC - operator of Guercif petroleum agreement onshore Morocco and developer of onshore fields in Trinidad - On Monday, following a review of its interim and annual financial statements, says there was no reference to the FRAM loan in its annual statements. Says there is no explanation as to why the chief executive officer of FRAM Exploration Trinidad Ltd unilaterally terminated the Inniss-Trinity CO2 EOR pilot project with 24 hours' notice. Says correspondence gave undertakings regarding the project to progress. Adds its position remains unchanged regardings the FRAM loan, as it outlined on June 7. Determines that there is an option to resolve the issues but says that if this option cannot be progressed it will continue with the legal process.
Current stock price: 8.00 pence
12-month change: up 63%
By Heather Rydings; heatherrydings@alliancenews.com
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Predator Oil (PRD)