Last checked at 19 Jul 2019 08:00
FOR IMMEDIATE RELEASE
19 July 2019
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 CHANGES
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company, today announces the following changes to the Board.
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Sarah Cope has resigned as Non-Executive Director of the Company and Carl Kindinger has been appointed Non-Executive Director and interim Chairman with immediate effect.
Paul Griffiths, Chief Executive of Predator, commented:
"We greatly appreciate Sarah's contribution to the Company since our admission onto the Standard List. We welcome Carl to the Board as interim Chairman. Carl brings significant financial expertise to the position and effective oversight of the Company's finances going forward as we progress drilling in Morocco and develop production potential in Trinidad."
Enquiries:
Predator Oil & Gas Holdings plc Paul Griffiths, Chief Executive Officer Carl Kindinger, Non-Executive Chairman
| Tel: +44 (0)1534 834600 |
Brandon Hill Capital Jonathan Evans / Oliver Stansfield
| Tel: +44 (0)20 3463 5000 |
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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 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. A Successor Authorisation has been granted for the Celtic Sea asset whilst the result of an application for a Frontier Exploration Licence over the Slyne Basin exploration asset is is pending.
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.