Last checked at 13 Oct 2023 07:00
FOR IMMEDIATE RELEASE
13 October 2023
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
LEI 213800L7QXFURBFLDS54
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries the "Group")
Issuance of Share Options
Predator, the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, advises of the issuance of the following options over new Ordinary Shares:
Issuance of Options to Non-executive directors
The Board's Executive Directors have resolved to make the following award of unallocated share options the "Options") under the Company's existing option scheme
To: Alistair Jury (Non-executive Director):
Award of 3,000,000 Options
To: Carl Kindinger
Award of 3,000,000 Options
Options issued on 12 October 2023 to Alistair Jury and Carl Kindinger are exercisable at 12.5 pence per share. Fifty percent (50%) of the Options (1,500,000) will vest upon the release of an RNS in respect of the rigless testing results for the Guercif Licence and fifty percent upon the release of an RNS in respect of the completion of the acquisition of TRex Holdings Trinidad Limited and the Cory Moruga project.
Total Options and Warrants on issue
Following the issuances of the options announced herein, the total options and warrants outstanding in the Company are as follows:
OPTIONS¹ 27 October 2020 | WARRANTS² | OPTIONS³ 31 January 2022 | OPTIONS? 5 July 2022 | |
Directors | Nil | 2,000,000 | ||
Previous director | 1,650,000 | Nil | 1,000,000 | 2,000,000 |
Advisers and directors of Group subsidiary companies | Nil | 17,880,180 | Nil | Nil |
OPTIONS? 9 November 2022 | OPTIONS? | OPTIONS 27 March 2023 | OPTIONS 12 October 2023 | |
Directors | 13.598,923 | 15,710,972 | Nil | 6,000,000 |
Previous director | Nil | Nil | ||
Advisers and directors of Group subsidiary companies | Nil | 3,000,000 |
(1) 27/10/20 options are exercisable at 5 pence per share
(2) Warrants include outstanding warrants issued to Company advisers at
1,020,000 at an exercise price of 10.5 pence per share
600,000 at an exercise price of 15 pence per share
690,000 at an exercise price of 9 pence per share
1,800,000 at an exercise price of 5.5 pence per share
1,099,765 at an exercise price of 8 pence per share
2,181,810 at an exercise price of 6 pence per share
1,780,412 at an exercise price of 5.7 pence per share
1,080,000 at an exercise price of 10.5 pence per share
2,863,636 at an exercise price of 11 pence per share
5,454,546 at an exercise price of 11 pence per share
(3) 31/01/22 share options are exercisable at 5.66 pence per share.
(4) 05/07/22 share options are exercisable at 8.125 pence per share.
(5) 09/11/22 11,598,923 share options are exercisable at 10 pence per share
2,000,000 share options are exercisable at 7.75 pence per share
(6) 27/03/23 share options are exercisable at 8.125 pence per share
(7) 12/05/23 15,710,972 share options are exercisable at 8.0 pence per share
3,401,077 share options are exercisable at 10 pence per share
If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be £5,982,951.
Follow the Company on X @PredatorOilGas.
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 Paul Griffiths Executive Chairman Lonny Baumgardner Managing Director | Tel: +44 (0) 1534 834 600 Info@predatoroilandgas.com |
Fox-Davies Capital Jerry Keen
Novum Securities Limited David Coffman / Jon Belliss |
Tel +44 (0)2038847447 jerry@fox-davies.com
Tel: +44 (0) 207 399 9400
|
Flagstaff Strategic and Investor Communications Tim Thompson Mark Edwards Fergus Mellon
| Tel: +44 (0) 207 129 1474 predator@flagstaffcomms.com |
Notes to Editors:
Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas less than 10 kilometres from the Maghreb gas pipeline. The MOU-1 well drilled in 2021 and the MOU-3 well drilled in 2023 have been completed for rigless testing in 2023. Focus is on supplying compressed natural gas to the Moroccan industrial market. Further drilling activity is being progressed to evaluate Jurassic prospects.
Predator is seeking to apply CO2 EOR techniques onshore Trinidad which have the advantage of sequestrating anthropogenic carbon dioxide. Acquisition opportunities are also being progressed which are compatible with this strategy.
Predator owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.
Predator has developed a Floating Storage and Regasification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.
The Company has a highly experienced management team with a proven track record in successfully executing operations in the oil and gas sector.