Last checked at 14 Jul 2020 07:00
FOR IMMEDIATE RELEASE
14 July 2020
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")
Board Appointment
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations focused on developing carbon-neutral businesses in Trinidad, Morocco, and Ireland, is pleased to announce the appointment of Mr. Louis Castro as Non-executive Director with immediate effect.
Louis has 30 years in the industry and the City and was most recently Chief Finance Officer at Eland Oil and Gas plc (a shallow water offshore Nigeria oil producer acquired by Seplat Petroleum Development Company plc for £382million in cash in December 2019). He has worked in corporate finance and the capital markets in diverse geographic areas from the UK to the Far east, South America and Africa, including the execution of complex M & A transactions from initiation through due diligence to negotiating and financing.
He is experienced in audit, tax and financial analysis and strategic planning and marketing and has chaired audit committees and remuneration and nomination committees in several public companies, where he has also advised on corporate governance. He is a Fellow of the Institute of Chartered Accountants and formerly a London Stock Exchange Nominated Advisor, including FCA registrations.
Paul Griffiths, Chief Executive of Predator, commented:
"Today's appointment is significant as it demonstrates Predator's ability to attract high calibre experienced and well-connected Board members necessary to oversee the further development of the Company's businesses. These are in three diverse geographic areas but linked by a global aspiration to reduce CO2 emissions in countries with a high dependence on certain, more carbon-intensive, fossil fuels. The "greener" focus of our strategy established when coming to the market in 2018 has been put into practice and executed. This track record, which incorporates substantive progress on measurable sequestration of CO2 in Trinidad; the identification and de-risking of material gas prospects in Morocco adjacent to infrastructure to potentially substitute for coal in power plants; and the development of our LNG FSRU relationships as a means of providing flexible energy supply to replace coal and oil, is the catalyst for potential M & A transactions. Each of our businesses is ring-fenced in separate wholly-owned subsidiaries. Louis's appointment today is the catalyst for utilising an additional valuable conduit for the Company to spread the Predator business model to peer companies and green funds looking for the right investment opportunity POST-covid19 that combines ethical investment with attractive project economics."
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse
For more information please visit the Company's website at www.predatoroilandgas.com:
Enquiries:
Predator Oil & Gas Holdings Plc Dr. Stephen Staley Non-executive Chairman Paul Griffiths Chief Executive Officer | Tel: +44 (0) 1534 834 600 Info@predatoroilandgas.com
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Novum Securities Limited Jon Belliss
Optiva Securities Limited Christian Dennis | Tel: +44 (0) 207 399 9425
Tel: +44 (0) 203 137 1902 |
Flagstaff Strategic and Investor Communications Tim Thompson Mark Edwards Fergus Mellon | Tel: +44 (0) 207 129 1474 predator@flagstaffcomms.com
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Notes to Editors:
Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves in the producing Inniss Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing a Pilot Enhanced Oil Recovery project using locally sourced liquid carbon dioxide for injection into the oil reservoirs ("C02 EOR"). Near-term expansion and growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field and potential acquisitions of assets suitable for C02 EOR development, subject to all necessary approvals.
In addition, Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland, for which Successor Authorisations have been applied for, adjoining Shell's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea.
Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is initially prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.
The Company has a highly experienced management team with a proven track record in the oil and gas industry.