Predator Oil & Gas Holdings PLC (LSE:PRD), under the stewardship of Executive Chairman Paul Griffiths, addressed shareholders at the Proactive One2One Investor Forum, detailing their strategic positioning, current projects, and future prospects.
With operations spanning Morocco, Trinidad, and Ireland, Predator Oil & Gas is focused on developing its asset portfolio, emphasising the Moroccan testing programme, which promises to unlock significant immediate revenue potential.
Griffiths addressed a shareholder concern regarding MOU five, clarifying its inclusion in their presentation and reaffirming the company's strategic direction towards immediate revenue opportunities, notably in Morocco.
Predator Oil & Gas's Moroccan assets are characterised by four proven hydrocarbon traps and over 200 square kilometres of gas potential, drawing parallels with significant gas discoveries in the Eastern Mediterranean and African margins.
The company is progressing with its testing programme in Morocco, aiming to materialise $1.56 billion in revenues within 18 months. Griffiths underlined the logistical challenges and regulatory hurdles encountered in Morocco, yet confirmed smooth progression with the support of ANAME and the Ministry.
The company's diversified portfolio includes promising prospects in Trinidad, where contingent and proven resources bolster its asset base, and Ireland, where regulatory responses are awaited. Predator Oil & Gas also eyes expansion in West Africa, leveraging Griffiths' proven track record in achieving farm-outs.
Griffiths addressed operational challenges, particularly formation damage encountered during drilling, and outlined the adoption of the Sanjay perforating technique to enhance gas flow rates. This technique, alongside strategic investments in Trinidad and the exploration of biogenic gas resources in Morocco, underscores Predator Oil & Gas's commitment to innovative and efficient resource development.
In conclusion, Griffiths highlighted the company's exploration successes, the strategic importance of its Moroccan and Trinidadian assets, and potential avenues for securing value, including considering a private equity buyout due to market undervaluation. The company's commitment to ESG principles was also emphasized, with investments in local communities and environmental conservation efforts.
