PRD5 Feb 2024 19:32
Predator Oil & Gas Holdings PLC - Jersey-based oil and gas company with operations in Morocco, Trinidad, and Ireland - Signs extension to its 2022 rig contract for the use of the Star Valley Rig 101, currently available in Morocco. Says extension will facilitate drilling of the MOU-5 well to evaluate the 177 kilometres squared Jurassic structural closure in a crestal location, the limit of which was penetrated in MOU-4 in 2023. Drilling of MOU-5 is scheduled for between April 1 and May 31 "to avail of in-country well services that will remain following the completion of the company's rigless testing programme, which is currently underway, thereby reducing mobilisation costs for well equipment and services." Most critical long lead items required for drilling are available from its surplus inventory, "thereby potentially further reducing drilling costs". Company says it is fully funded to conduct the drilling.