Paul Griffiths RNS Quote19 Jul 2022 08:10
Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented:
"Despite logistical challenges caused by the situation between Russia and Ukraine, we are pleased that we remain on track to drill the follow-up well to MOU-1 during September and October. The Guercif licence area has always represented a unique risk-reward proposition for the Company and its shareholders. This has been reinforced in the last few months as the European energy crisis has taken a firm stranglehold.
We have the means to drill a sizeable onshore gas target but most importantly a clear plan for early monetisation though a CNG development that does not require any new gas pipeline infrastructure or any long delays in accessing existing infrastructure.
The Moulouya Fan Project is a project made for the current shortage of gas scenario in Morocco and Europe. Sometimes global events align to favour those that were prepared to take risks in an area that was for so long neglected and overlooked. Recognising missed opportunities is a key driver for our Company's management as it creates our competitive edge."