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Predator Oil & Gas Holdings Plc: Operational update
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Operational update

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland announces that the MOU-1 well remains on schedule to commence drilling during June 2021 in the area of the Guercif Petroleum Agreement, comprising the Permits I, II, III and IV, located in the Guercif Basin in northern Morocco. The MOU-1 well location is approximately 250 km due east of and on trend with the Rharb Basin, where shallow commercial gas production has been established for several years.

Well spud during June is dependent upon the completion of drilling operations for three wells for another operator SDX Energy in the Rharb Basin after which the Star Valley Rig 101 will be mobilised to Predator for the Guercif drilling.

Drilling at MOU-1 is expected to take up to 20 days. Subject to the results of wireline logging the well will be completed for rigless testing.

As previously guided, results from MOU-1 may potentially de-risk up to 1,823 BCF of prospective High Estimate gross recoverable gas resources in the Tertiary and in the MOU-4 Prospect to provide the basis for a further drilling programme, including appraisal and exploration wells, when the Star Valley rig becomes available again later in 2021.


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