FOR IMMEDIATE RELEASE

30 September 2024

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

Helium potential MOU-5 prospect at Guercif

Highlights

·    MOU-5 will test effectiveness of a potential He charge and retention.

·    Potential in-place helium of 104.31 to 598.88 BCF

·    Fully funded for all commitments

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with near-term hydrocarbon operations focussed on Morocco and Trinidad is pleased to announce the completion of an independent report (the "Report") on Helium ("He") potential by ScorpionGeoscience Limited.

Report Conclusions

The potential conventional prospective gross recoverable gas resources for the primary reservoir target in MOU-5 were previously reported as being 5.916 TCF (P50 upside case), as announced on 8 August 2024.

Potential gross estimates of in-place He for the P50 upside case are 104.31 BCF based on a global averaged scenario of 1.298% He and 598.88 BCF for the P10 upside case based on a global averaged scenario of 4.066% He.

Sources of information

The report draws on global analogues from a diverse range of available published geological settings to investigate the distribution and scale of naturally occurring He resources and seeks to determine to what extent the MOU-5 structure in Guercif could potentially yield a commercial He discovery.

Examples quoted include the supergiant Hassi R'Mel gas field in Algeria to the east of Guercif and known to contain helium as a byproduct of methane gas production; and the Hugoton field complex in central USA.

The geological setting of Guercif means it is potentially possible He could be sourced from crystalline basement (Tanzanian analogue), granitic intrusions (Corsican analogue), or radiogenic volcaniclastic sediments (Hugoton analogue).

MOU-5 structure

The MOU-5 structure has several potential migration pathways (fractures and faults); potential reservoirs (porous limestones) sealed by impermeable rocks; and adequate trapping in the form of a large structural closure.

MOU-5 will test the effectiveness of a potential He charge and retention.

Other considerations

Extracting helium from natural gas requires energy to cool the gas therefore the proportion of He that can potentially be produced from natural gas as a commercially recoverable product will ultimately be dependent on variables such as price and technology used.

Risking

Risking is as previously reported for prospective gas resources on 8 August 2024 and relates almost entirely to hydrocarbon gas carrier presence.

Issuance of shares to advisors

Several advisers have requested to take shares for services to show their alignment with the Company's strategy regarding the near-term drilling of MOU-5 and the assessment of the potential for helium in a large geological structure based on global settings for the presence of helium including, but not limited to, the supergiant Hassi R'Mel gas field in Algeria to the east of Guercif.

Accordingly the Company has issued 1,491,889 new ordinary shares ("Shares") at a price of 0.0925 pence per Share in lieu of adviser fees totalling £138,000.

Application is being made for the 1,491,889 Shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange which is expected to be on or around 3 October 2024. These shares rank pari passu with the existing ordinary shares of the Company.

Following the issue of the 1,491,889 Shares, the Company's issued ordinary share capital shall consist of 571,874,754 ordinary shares.

This figure of 571,874,754 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.  

Paul Griffiths, Chief Executive Officer of Predator, commented:

"Given the potential size of the MOU-5 structure and its geological setting, this independent report on He potential enhances the case for the evaluation of potential helium presence in MOU-5. Although at an early stage of evaluation the opportunity to assess the ability to  add value to an area development should not be missed.

The Company is delighted to have received an unsolicited proposal from advisers to take shares as a measure of the understanding and confidence that exists in the Company's near-term newsflow activity."

For further information visit www.predatoroilandgas.com

Follow the Company on X @PredatorOilGas.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse.

For more information please visit the Company's website at www.predatoroilandgas.com: 

Enquiries:

Notes to Editors:   

Predator is an oil & gas company with a diversified portfolio of scaled assets including unique and highly prospective onshore Moroccan gas exposure, with multiple fully financed upcoming catalysts.

Predator has two high quality, scalable gas projects in Morocco with fast pace of commercialisation and blue sky potential. Guercif is a shallow CNG biogenic gas development with multiple traps and at least 4 separate reservoirs with recently drilled wells due to be flow tested. The Giant Jurassic Titanosaurus is a shallow thermogenic gas prospect evaluating 249m of potential gross reservoir thickness in a trap of 187 km2 for pipeline gas to power, with pipeline 2.5km from wellhead.   Moroccan gas prices are high, and the fiscal terms are some of the best in the world.  Predator also has a diversified portfolio of assets across Ireland and Trinidad, which is a near-term revenue-generating project.

Predator has an experienced management team and consultants with particular knowledge in Moroccan sub surface and operations.  The team specialises in incorporating modern, proven technologies and processes from Canada and the US to provinces where the conventional technologies did not allow their hydrocarbon potential to be revealed.

Predator Oil & Gas Holdings plc is listed on London Stock Exchange's Main Market with a Standard Listing (symbol: PRD). For further information, visit www.predatoroilandgas.com