Last checked at 2 Mar 2020 07:00
FOR IMMEDIATE RELEASE
2 March 2020
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.
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")
Director / PDMR Shareholding
Predator Oil & Gas Holdings plc makes the following announcement in accordance with Article 19(3) of the Market Abuse Regulation.
The Company has been informed that Ronald John Pilbeam, Project Development Director of the Company, has dealt in shares in the Company as follows:
1. | Details of the person discharging managerial responsibilities/person closely associated | |
(a) | Name of person |
Ronald John Pilbeam |
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| |
2. |
Reason for notification | |
(a) | Position/status | Project Development Director |
(b) | Initial notification/ amendment | Initial notification |
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| |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
(a) | Name of issuer | Predator Oil & Gas Holdings plc |
(b) | LEI | 213800L7QXFURBFLDS54 |
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| |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
(a) | Description and identifier of financial instrument | Purchase of common shares of Predator Oil & Gas Holdings plc as part of a placing as announced on 14 February 2020.
ISIN: JE00BFZ1D698
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(b) | Nature of transaction | Purchase of common shares of Predator Oil & Gas Holdings plc. |
(c) | Price and volume of transaction | Price: 4p/share
Volume: 312,500
|
(d) | Aggregated information - Aggregated volume - price | As noted in (c) above |
(e) | Date of transaction | 28 February 2020
|
(f) | Place of transaction | London Stock Exchange |
Enquiries:
Predator Oil & Gas Holdings plc Paul Griffiths Chief Executive Officer Carl Kindinger Non-Executive Chairman
| Tel: +44 (0)1534 834600 |
Novum Securities Limited Jon Belliss
Optiva Securities Limited Christian Dennis
|
Tel: +44(0) 207 399 9425
Tel: +44(0) 203 137 1902 |
Notes to Editors:
Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in a prospect 4 kilometres from the Maghreb gas pipeline, and deeper Triassic gas. A well location has been selected for drilling in Q2 2020 and a rig option agreement has been entered into.
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 the 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.
In addition, Predator also operates exploration and appraisal assets in 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. Ireland however remains a very challenging regulatory environment for business investment in the oil and gas sector and is not the immediate focus of the Company's near-term operations.
The Company has a highly experienced management team with a proven track record in the oil and gas industry.