Predator Oil & Gas raises £2.5M to expand Trinidad production
What's the deal? Predator Oil & Gas HoldingsDealroom has a profile for this one. Try Dealroom → (LSE: PRD) has placed 166,666,667 new ordinary shares at 1.5 pence each to raise £2.5 million before expenses. The Jersey-based company, which runs producing operations in Trinidad and Morocco, arranged the raise through joint brokers AlbR Capital and Crest Corporate Broking.
What's the endgame? The proceeds target growth on two fronts. In Trinidad, Predator plans to expand its Snowcap-3 production facilities, keep the Snowcap-3 drilling rig drill-ready, and fund additional well testing on up to two Goudron infield development wells.
Why now? The raise coincides with operational milestones. Snowcap-3 has received regulatory approval, with work set to begin in November, and final MOU-6 perforating and testing results are expected within two weeks.
What else? Recent Goudron field heavy workovers produced positive results, with well GY 664 flowing 37 barrels of oil per day and GY 665 producing 18. In Morocco, Predator is pursuing helium exploration — including a plan to deepen MOU-5 — and has initiated a first study of unconventional biogenic gas resources across a 120km² area.
The signal: For a small-cap producer, the placing is a bet on converting early operational wins into revenue, spanning oil production in Trinidad and higher-risk exploration bets in Morocco. The potential award of a Corrib South successor authorisation adds a further catalyst the company says may be drawing closer.
Read more: investegate.co.uk
Image credit: Paul Lowry
