Predator Oil & Gas Holdings Plc (LSE:PRD) has released an Independent Technical Report supporting the proposed Snowcap-3 (SC-3) appraisal well on the Cory Moruga onshore licence in Trinidad, confirming 2P reserves of 8.73 million barrels. The assessment also outlines project economics based on an assumed oil price of US$60 per barrel.
The company has begun groundwork for the SC-3 location, including site preparation and land registry processes, and is also assessing a possible location for a follow-up SC-4 well. Management has carried out an inspection of Star Valley Rig 205 and reviewed the drilling programme for the BON-20 well. A further operational update is expected once BON-20 drilling and testing have been completed.
Predator said preparations for the SC-3 well are advancing steadily. If the well proves successful and receives regulatory approval, it could be brought into production relatively quickly. The company aims to align any production uplift with currently elevated oil prices, which have been supported by geopolitical tensions in global energy markets.
The activity forms part of Predator’s strategy to accelerate the development of its onshore Trinidad assets, allowing the company to monetise discovered resources quickly while market conditions remain favourable. Management continues to focus on bringing appraisal prospects into production to strengthen the group’s portfolio of producing and development-stage assets.
From a financial perspective, the company’s outlook remains limited by weak performance metrics, including the absence of revenue, ongoing losses, and continued cash burn, although its balance sheet remains relatively clean with low levels of debt. Some improvement was noted in 2024. Technical indicators offer mixed signals: the MACD indicator is positive and the share price is trading above key longer-term averages, though momentum levels suggest the stock may be approaching overbought territory. Valuation also remains under pressure due to the company’s loss-making status and lack of dividend yield.
More about Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-registered oil and gas company focused on hydrocarbon production in Trinidad and gas appraisal with near-term development potential in Morocco. Its Moroccan portfolio includes shallow biogenic gas prospects suitable for compressed natural gas (CNG) or micro-LNG development, while its Trinidad operations centre on mature onshore oil fields where production enhancement and infill drilling opportunities exist. The company aims to benefit from favourable Moroccan gas pricing and fiscal terms alongside Trinidadian tax loss allowances and a services agreement with NABI Construction, supporting a relatively low-cost operating model.
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