RE: Admission Doc Pg 43 $7.5m27 May 2018 19:37
https://www.google.com/amp/www.proactiveinvestors.co.uk/companies/amp/news/60030
Q4.What are the key milestones that investors can look out for in the months ahead for Predator Oil and Gas?
A4: I think turning to Trinidad first is going be the immediate news flow and that will be the commencement of drilling operations onshore where we have the rig available at present to start those operations, those wells only take 10-15 days to drill so it’s very quick news flow on that. They only take 5-10 days to hook up to the existing production and gathering facilities which means you have sales oil very quickly from the project.
The next step in Trinidad will be the design of the Co2 EOR, enhanced ore recovery project, and with some estimates of the potential uplift in production we can get from individual wells from using this technology, this proven technology.
Moving on from that, we then execute, over the next 6-9 months, the pilot Co2 EOR project and then provide updated resources based on the results of that for the Innis Trinity field.
In Ireland, the first step is basically to progress to the next stage in negotiating and obtaining the successful authorisation which would be Frontier Exploration Licence, which would be subject obviously to regulatory approval.
From that, we would move on to open our discussions and continue our negotiations with the new Corrib gas field operator and as you know, that’s still awaiting approval from the regulatory authorities, as far as I understand, the transfer of the operatorship from Shell. The reason for that is because ahead of any drilling commitment, we would want to negotiate a time and tariff agreement before we spent high-risk money drilling a well basically, that’s just a natural commercial thing that most people would attempt to do.
Lastly, and most importantly, over the next 6 months we will be establishing the drilling consortium to drill this prospect, no earlier than 2020 unfortunately, that’s the time you need effectively to plan and execute wells these days. The types of parties we have, already having discussion with, are basically a mix of private equity engineering companies and oil majors and the reason why the project is attractive, in terms of these entities, is that they’re looking at the overall project, in a success case, of it being able to tie-back and monetised gas through the Corrib infrastructure very quickly and that makes it a completely different style of farm-out partnership, if you like, to the normal conventional farm-out where you’re farming out for high-risk exploration wells or appraisal wells. So, that allows us to have a broader audience for potential participation in this.
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