Client News
Predator Oil & Gas Holdings Plc: Operational highlights (MOU-1 drilling) and Placing to raise £1.5 millionPredator Oil & Gas Holdings Plc
Operational highlights (MOU-1 drilling) and Placing to raise £1.5 million
Operational highlights
• MOU-1 estimated spud date between 15 – 27 June 2021
• Drilling estimated to take 14 to 20 days
• MOU-1 site construction and civil works nearly complete
• Rig contract with Star Valley executed
• Schlumberger Master Services Agreement executed
• All well services and logistical support in place
• Well costs in line with budget forecasts
• Pre-drill geological expectations firmly remain as previously reported
• CO2 EOR injection continuing as planned in Trinidad despite COVID restrictions
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland is pleased to announce that it has conditionally placed 10,000,000 new ordinary shares of no par value in the Company (the “Placing Shares”) at a placing price of 15 pence each (the “Placing Price”) to raise £1,500,000 before expenses (the “Placing”).
The Placing was significantly oversubscribed and utilises the Company’s existing headroom shares under the Financial Conduct Authority restrictions for companies on the Official List (standard listing segment) of the London Stock Exchange’s main market for listed securities.
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