RE: Specifically for the ignorami22 Mar 2026 11:23
From Sept 1st RNS issued by Predator Oil & Gas
Business development strategy executed
The acquisition of the Challenger Trinidad's existing business structures, contractual arrangements, facilities, and practical operations experience creates material substance and the in-country relationships necessary to support the Company's logistical infrastructure required to strengthen its primary business objective. This is to operate its core asset in the Cory Moruga Exploration and Production Licence through appraisal and development and the transport and sale of oil into a pipeline entry point.
With 2P/2C unrisked Contingent and Prospective oil resources of 14.31M barrels of oil, unchanged since the January 2024 Independent Technical Report, and a projected peak field production rate of 3,000 to 4,000 bopd based on the adjacent Moruga West Field production profile analogue, developing the Cory Moruga asset continues to represent a high reward opportunity now supported by the enlarged portfolio of Trinidad assets and infrastructure.
Paul Griffiths, Chief Executive Officer of Predator, commented:
"We are pleased to have successfully completed the acquisition of three new producing assets with an immediate generation of revenues for the Company from the Completion Date.
The agreement executed with NABI relieves the Company of the burden of funding minimum work obligations and field operating costs.
The arrangement also ensures that an aggressive heavy workover and infield drilling programme will be executed over the next 24 months to address over-looked opportunities with potential to enhance oil production. It provides multiple newsflow opportunities.
The revenue-sharing agreement with NABI may be regarded as a form of royalty that guarantees positive cash flow for the Company without exposure to operational risks.
The consolidation of the Trinidad business structures within the overall Company management structure ensures that our long-held principles of minimising administrative costs and not entering into interest-bearing loan arrangements but retaining exposure to potentially higher reward drilling opportunities are maintained.
The timing of Completion of the acquisition is particularly noteworthy given the recent reports from Trinidad of ExxonMobil entering the Trinidad offshore with a committed expenditure of US$ 42.5M and a reported speculative US$16.4 to 21.7B spend on development if initial seismic and other technical studies are successful. This will ensure that Trinidad will be a centre of attention in the oil and gas sector over the next few years.
We have focused on getting the Trinidad acquisition over the line whilst we have a short operational hiatus in Morocco. In September we will review the data for the perforated MOU-3 "A" Sand interval and prepare to plan for the next phase of operations."
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