Predator Oil & Gas - Liscences28 Aug 2024 10:27
I posted this yesterday on EOG (Europa) & PRD (Predator) who are all in the same Ryanstein mess. Maybe it has some relevance here.
PRD, they to have relinquished/lost/horse traded their 2nd Celtic Sea - Rams Head license, but Paul Griffiths posted in a June 6 RNS Corporate Update
Ireland
· The Company has received correspondence from the Department of the Environment, Climate and Communication Geoscience Regulation Office ("DECC GSRO") in respect of its applications for successor authorisations for Licensing Options 16/26 and 16/30.
· GSRO acknowledged that the Company had met the technical assessment criteria for Licensing Option 16/26 and offered the opportunity for the Company to submit additional material to complete the assessment of financial capability.
· The Company has elected to focus on a potential award of a successor authorisation for Licensing Option 16/26 ("Corrib South") as the Company is very confident that it can demonstrate that it has the financial capability to satisfy the Corrib South work programme and has accordingly communicated supporting financial information to the GSRO.
· Gross unrisked P10 gas in place of 303 BCF net to the Company's 50% interest with a 44% chance of success (Tracs International Competent Person's Report August 2023).
· Option to acquire additional 50% interest prior to concluding a farmout transaction.
· Lastly, we have agreed in principle, farm-in terms on Licencing Option 16/26, the company has expressed a desire to farm into any successor authorisation for Licensing Option 16/26 that is eventually awarded to Predator
The Corrib South structure, located just 18 kms from the Corrib gas field, was formerly held by Shell as a "Reserved Area" during the development of the Corrib gas field.
The Corrib South structure is potentially of an optimum size to prolong the life of the Corrib gas filed infrastructure if gas is successfully discovered in the future. Furthermore it may provide gas and hydrogen storage options to enhance security of energy supply.
The Company is now cautiously optimistic that an award of the Corrib South successor authorisation is potentially achievable in 2024.
DONALB - I am still hoping for a triple deal, EOG, PRD & Vermilion, 3 drills for the price of 2 !!!