Predator Oil Regulatory News (PRD)

16 October 2018

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

Predator Oil & Gas Holdings Plc

("Predator" or the "Company")

Notice of Extraordinary General Meeting ("EGM")

A Notice of EGM of the Company has today been posted to shareholders. The EGM will be held at Consortia Secretaries Limited, 3rd Floor, Standard Bank House, 47-49 La Motte Street, Jersey, JE2 4SZ on Monday 5th November 2018 at 11.00am. 

Purpose of the EGM

Ahead of the Company's admission to the Standard List of the UKLA and to trading on the London Stock Exchange, the Company passed a written resolution setting out certain limits on the authorities granted to Directors to allot Ordinary Shares in the Company. These limits are detailed in the Company's Prospectus which is available from the Company's website www.predatoroilandgas.com. 

The Directors wish to amend and simplify these authorities and, in certain circumstances, reduce the authority granted to directors to allot Ordinary Shares on a non-pre-emptive basis and are therefore proposing to limit the Directors' authority to allot shares to 20,027,430 Ordinary Shares, which represents 20% of the current issued share capital of the Company. 

The Notice of EGM is available at the Company's website www.predatoroilandgas.com

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 or contact: 

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.

In addition, Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland 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.

The Company has a highly experienced management team with a proven track record in the oil and gas industry.