Predator Oil & Gas (LSE:PRD) reported gross oil sales of US$337,071 for February from its four onshore fields in Trinidad. Output was supported by production from recently drilled development wells BON-18 and BON-19, along with the reactivation of six previously inactive wells.
The company expects oil sales prices for March to be 25% to 35% higher as global oil markets strengthen. Higher realised prices could lift revenues and allow the group to utilise more of its historical tax losses, lowering the effective Petroleum Profit Tax rate applied to its Trinidad operations.
Predator is continuing to advance its operational programme across the portfolio. Work is underway to log and complete the new BON-20 well across several oil-bearing zones, while six workovers are planned across the Inniss-Trinity and Goudron fields. The company has also increased swabbing frequency to improve production and intends to bring the Jacobin-1 well back online once a workover rig becomes available.
In addition, the group is assessing back-to-back drilling opportunities at the Bonasse field to improve rig utilisation and is progressing scheduling for the SC-3 Snowcap appraisal and development well in Morocco. These activities are intended to expand production capacity while positioning the company to benefit from higher oil prices.
Despite operational progress, Predator’s outlook remains constrained by weak financial fundamentals, including the absence of revenue at the group level, ongoing losses and continued cash burn, although the company maintains a relatively low-debt balance sheet and reported some improvement in 2024. Technical indicators offer moderate support, with the share price trading above key longer-term moving averages and a positive MACD signal, though momentum indicators suggest the stock is approaching overbought levels. Valuation remains limited by the company’s loss-making position and the lack of dividend support.
More about Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas company focused on onshore hydrocarbon production in Trinidad and gas appraisal and development opportunities in Morocco. Its Trinidad portfolio includes mature producing fields with potential for production enhancement, while its Moroccan assets target shallow biogenic gas resources benefiting from attractive pricing, supportive fiscal terms and access to existing export infrastructure.
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