Predator Oil & Gas Holdings PLC has received an exercise notice from Novum Securities Limited for 5,221,203 warrants, resulting in the issuance of new ordinary shares. The exercise price for the warrants ranges from 5.5 pence to 8.0 pence per share, with a total aggregate of £304,474.06 received. The new shares are expected to be admitted for listing on the Official List and trading on the Main Market of the London Stock Exchange around 1 July 2024.
The new shares will rank pari passu with the existing ordinary shares, bringing the company's total issued ordinary share capital to 570,382,865 shares. This figure represents the total voting rights in the company and should be used by shareholders for notification purposes under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.
Predator is the operator of the Guercif Petroleum Agreement onshore Morocco, focusing on Tertiary and Jurassic gas exploration and appraisal drilling. The company is also seeking to apply CO2 EOR techniques onshore Trinidad and has acquired T-Rex Resources (Trinidad) Ltd., which holds the Cory Moruga Production Licence. Additionally, Predator owns and operates exploration and appraisal assets in licensing options offshore Ireland, adjoining Vermilion's Corrib gas field and east of the decommissioned Kinsale gas field.
The company has developed a Floating Storage and Regasification Project (FSRUP) for the import of LNG and its regassification for Ireland, as well as gas storage concepts to address security of gas supply and volatility in gas prices during peak gas demand. The progress for the Mag Mell FSRUP will depend on government policy in relation to energy supply security, with the FSRUP concept recognized by the government as an option for energy supply security.
For further information, visit the company's website at www.predatoroilandgas.com or follow the company on X @PredatorOilGas.