Predator Oil & Gas Holdings Plc (LSE:PRD) has raised £3 million through a placing of 85.7 million new shares at 3.5 pence each to support an expanded operational programme across its assets in Trinidad, Morocco, and Ireland. The company also reported that April production revenues from Trinidad exceeded internal forecasts by 26%.
The funding will support the deepening of the Snowcap-3 well, the reactivation of the Snowcap-2ST1 and Jacobin-1 wells, and feasibility studies relating to gas re-injection and gas-to-power initiatives in Trinidad. In Morocco, proceeds will help secure long-lead equipment and engineering work for the MOU-6 well alongside pilot compressed natural gas (CNG) development activities.
Focus on Corrib South and European Gas Opportunities
Predator Oil & Gas Holdings Plc also plans to advance an updated technical package and continue its search for partners for the Corrib South gas prospect offshore Ireland. Management said the asset could play an important role in supporting European energy security.
The company added that recent regulatory developments together with updated resource and economic assessments have strengthened the case for bringing Corrib South back into active development planning. Predator aims to use its positions in Morocco and Atlantic Ireland to attract industry partners seeking access to gas resources connected to European markets.
Additional Use of Proceeds and Financial Outlook
The fundraising proceeds will additionally cover environmental studies, legal and administrative expenses, and potential strategic investments in infrastructure projects. The placing also includes the issue of new warrants alongside an enlarged share capital base.
Despite stronger revenue performance and a relatively low-debt balance sheet, the company’s outlook continues to be constrained by weak financial fundamentals, including sizeable losses, negative profit margins, and ongoing cash burn. Technical indicators remain broadly neutral with modest trend support, while valuation metrics continue to be challenged by the company’s negative price-to-earnings ratio and lack of dividend yield data.
More About Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas business with producing hydrocarbon operations in Trinidad and Morocco as well as prospective offshore gas assets in Ireland.
The company focuses on onshore and offshore gas and oil opportunities located close to European gas infrastructure, aiming to benefit from evolving regional energy security priorities and natural gas supply dynamics.
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