Predator Oil & Gas Holdings (LSE:PRD) has stepped up activity ahead of its Snowcap-3 (SC-3) appraisal and development well on the Cory Moruga licence in Trinidad. The company has ordered critical long-lead drilling equipment, with delivery expected within 65 days, and has bolstered its operational team. Subject to the outcome of SC-3, three additional development drilling locations have already been identified, with initial production expected to rely on trucking before scaling up output.
Updated seismic interpretation and well data have widened the scope of the SC-3 well to include the Herrera #8 Sand, linked to de-risked 3C contingent recoverable resources estimated at 1.84 million barrels. Historical production tests from nearby wells indicate strong flow potential, which could further enhance the asset’s commercial viability. Beyond Cory Moruga, Predator continues to advance drilling and workover programmes across its Trinidad portfolio, while in Morocco it has finalised updated well designs and drilling fluid strategies for the Guercif gas licence. These developments position the group to capitalise on firm oil prices and potential future gas monetisation opportunities in Morocco.
Despite operational progress, the company’s broader investment case remains constrained by weak financial fundamentals, including the absence of revenue, ongoing losses, and continued cash burn. This is partially mitigated by a relatively low-debt balance sheet and some improvement seen in 2024. Technical indicators offer moderate support, with the share price trading above key longer-term averages and showing positive momentum, although conditions appear close to overbought. Valuation remains challenged due to the lack of profitability and no dividend yield.
More about Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas exploration and production company with a focus on onshore assets in Trinidad and gas development in Morocco. Its portfolio spans producing and appraisal projects in Trinidad, alongside shallow biogenic gas opportunities in Morocco, where the company is targeting compressed natural gas (CNG) and micro-LNG solutions supported by favourable pricing dynamics and fiscal conditions.
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