Predator Oil & Gas Holdings Plc has announced the ratification of Petroleum Agreement Amendment #4, allowing the company to proceed with the Sandjet rigless testing program as planned. The company's focus is on near-term hydrocarbon operations in Morocco and Trinidad. In Morocco, Predator is the operator of the Guercif Petroleum Agreement, which is prospective for Tertiary and Jurassic gas. The company has completed the MOU-1, MOU-3, and MOU-4 wells for rigless testing in early 2024, with a near-term focus on supplying compressed natural gas to the Moroccan industrial market.
Predator is also seeking to apply CO2 EOR techniques onshore Trinidad, with the recent acquisition of T-Rex Resources (Trinidad) Ltd. The Cory Moruga Production Licence, held by T-Rex, is a potentially significant asset for the company, capable of generating positive operating profits in the near-term. Additionally, Predator owns and operates exploration and appraisal assets in licensing options offshore Ireland, adjoining Vermilion's Corrib gas field in the Slyne Basin and east of the decommissioned Kinsale gas field in the Celtic Sea.
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 demand. Progress for the Mag Mell FSRUP will depend on government policy in relation to energy supply security, with the government recognizing the FSRUP concept as an option for energy supply security.
For further information, visit the company's website at www.predatoroilandgas.com.