Member Info for Gizzard

Opportunity to add thank you guys

RNS Number : 6849V
Predator Oil & Gas Holdings PLC
10 April 2019

10 April 2019

Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")

Extension to the Term of Licensing Option 16/30 ("Ram Head")


Highlights

· Licensing Option 16/30 extended to 30 November 2019

· Updated Competent Person's Report ("CPR") commissioned to assess and validate development concept

· Previous CPR (2018) Best Estimate and High Estimate Prospective Gas resources net to the Company of 508 and 1,370 BCF respectively

· Scoping initial production rate 400 mm cfgpd to recover 1 TCF of gross gas in 11 years



Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, is pleased to announce today its acceptance of a one year extension of the term of Licensing Option 16/30 ("LO 16/30") to 30 November 2019 subject to the carrying out of the work programme agreed with the Department of Communications, Climate Action and Environment, the conditions that are attached to Licensing Option 16/30 and the Licensing Terms for Offshore Oil and Gas Exploration and Development and Production 2007 respectively.

A decision by the Company to proceed to an application for a follow-on Exploration Licence as provided for under the terms of the Licensing Option will be made on or before 60 days prior to the end of the Licensing Option.

LO 16/30 is operated by Predator Oil and Gas Ventures Ltd. (POGVL 50%), a wholly-owned Predator Oil & Gas Holdings Plc subsidiary, on behalf of its partner Theseus Ltd. ("Theseus" 50%).

The work programme agreed with the Department of Communications, Climate Action and Environment includes inter alia the purchase and reprocessing of existing 2D seismic data and ongoing desk-top studies, principally focused on re-evaluating the Marathon 49/19-1 gas discovery made in 1984 by applying modern technology, new development concepts and an understanding of the future requirements for gas in Ireland.

An updated Competent Person's Report ("CPR") has been commissioned to incorporate the Company's most recent independent reservoir engineering studies; development options, based on landing gas at the current Inch landfall for Kinsale gas in County Cork; and gas market assessment. The previous CPR (2018) gave Best Estimate and High Estimate Prospective Gas Resources net to the Company of 508 and 1,370 BCF respectively

The updated CPR will be released within the next few weeks and will represent the first such independent analysis of the development potential of the Ram Head gas structure based on the Company's scoping 10 vertical well development concept; initial field production rate projection of 400 mm cfgpd; and forecast gas recovery of over 1 TCF of gross gas in 11 years from production start-up.


Paul Griffiths, Chief Executive of Predator, commented:

" We are extremely grateful for the award of the extension to LO 16/

Your analysis of SEA7 is spot a negative spin doctor.

There is nothing to suggest that the well is not performing efficiently. I would suspect that it's been shut-in for longer than 72hrs as the production results are amazing.

The formal testing programme was started on 30 March 2019, after downhole pressure recorders had been installed, with a six hour flow period on a 5/64 inch choke. After a 12.5 hour shut-in period the well was flowed for 11 hours on an ? inch choke. The flow, limited by the capacity of the testing facilities, quickly stabilised to a rate of 1,100 bbl/d through the 2? inch tubing with a well head flowing pressure of 590 psig. The well is now shut in for a 72 hour period. On recovery of the downhole gauges pressure transient analysis will be performed and reported by RNS.

Following the current build-up phase the well will be placed on production using the field's existing test facilities, and the oil trucked to a nearby oil storage facility where it will be stored until sale. The initial production rate will be based on the analysis of the production and pressure build-up tests.

Chief Executive Officer Paul Haywood said: 'We are delighted to report such encouraging test results from the first well we have sidetracked at our flagship West Rustavi field, delivering a production rate significantly higher than that initially presented. Current performance, complemented by the Company's increased working interest in the licence, looks set to deliver great value to our shareholders.

I'm hoping for a very positive RNS.

If the sp falls further I will sell other stock to buy more.

No doubt someone’s acquiring - all the intel points to a successful campaign can’t wait for the news to drop.
Won’t be selling any.

Completely agree - we all want to make money that's why I've a substantial holding here.

You or someone else, there are two delayed trades from 8.04 this morning.
L2 shows it all.

https://www.proactiveinvestors.co.uk/companies/stocktube/12566/block-energy-s-paul-haywood-on--game-changing--move-to-fully-acquire-west-rustavi-12566.html

I repeat no one would invest £1.5M on a gamble, this guy is an experienced Oil & Gas man - follow the money.

Trying buy at this level is difficult until someone sells. That's why 200k just gone through

Yes I believe it is.

Hi SEA7 do you own stock in BLOE? Or have sold at the high to buy cheaper once it's reached your self projected target.

Very straightforward, A.J.Bell are excellent, set up an ISA within minutes, call them explain which stocks you want to transfer and they do the rest for £4.50 per transfer.

More bed and ISAs delayed from earlier

Total manipulation here it’s obvious they’re collecting for a buyer. Ignore them and buy as many as you can.

The next RNS will blow the socks off this. PH is preparing lots of news he wants to make his mark.
Keep focused don't listen to the propaganda.

Changing constantly, added three times thank you for the opportunity.

These drops allow me any others to top up, like it's been mentioned on numerous occasions no one parts with £1.5M on a gamble.

This will multi-bag sooner rather than later.

No RNS means nothing, will be adding.

25p

No one commits £1.5M on a gamble. This will rise into the close, lots going on here.
Strong board of directors one of them was part of Nautical Petroleum which from memory went from 10p to £4.50p