Predator Oil & Gas Holdings Plc A busy and transformational period

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Predator Oil & Gas Holdings Plc (LON:PRD), the Jersey-based oil and gas company with an exciting portfolio of high impact oil and gas assets onshore Trinidad, on the Atlantic margin of Ireland and in the Celtic Sea, announced today its Interim Results for the six months ended 30 June 2018.

Strategic highlights

· Assembled an exciting portfolio of high impact oil and gas assets in the Republic of Trinidad and Ireland;

· Potential for production and cash flow from Trinidad in the near to medium term;

· Successful entry into offshore Ireland providing exposure to high potential, transformational gas acreage;

· Potential for early monetisation in a success case offshore Ireland created by strategic focus on gas around offshore infrastructure prior to rising gas prices and concerns over security of gas supply; and

· Fully funded for near to medium term operations.

Corporate

· Consolidated an existing non-operated oil and gas business opportunity in the Republic of Trinidad and Tobago and an exploration and appraisal portfolio offshore Ireland;

· Admission of the entire issued share capital to the Standard Listing segment of the Official List (the “Listing”) and to trading on the Main Market of the London Stock Exchange; and

· Application made for a Frontier Exploration Licence, a Successor Authorisation to Licensing Option 16/26 (Corrib South Prospect).

Operational

· Accelerated planning for Enhanced Oil Recovery in the Inniss-Trinity field onshore Trinidad using carbon dioxide injection (“CO2 EOR”); and

· Initial planning for the 18/25-3 Corrib South exploration well commenced to ensure regulatory consents and approvals in place ahead of potential drilling campaign in 2020, subject to the award of the frontier exploration licence.

Financial

· Successful over-subscribed £1.3 million fundraising coinciding with Listing;

· Cash at 30 June 2018: £1,325,967;

· Fully funded for near to medium term operations; and

· No revenue due to early stage of planning and execution of incremental production operations in Trinidad. Loss for the period of £153,979.

Post-period highlights

· Amended Well Participation Agreement executed on 30 July 2018 with FRAM Exploration (Trinidad) Ltd. providing for acceleration of CO2 EOR operations and potentially higher production rates; and

· Heads of Agreement executed with CO2 Supplier for minimum daily delivery of 60 metric tonnes of CO2 to the Inniss-Trinity field, establishing Predator’s footprint in Trinidad as the pathfinder for CO2 EOR.

Outlook

The Board’s strategy remains to create shareholder value through; (i) implementing CO2 EOR operations in Trinidad, generating early cash flow; and (ii) achieving exploration success in the Group’s high-potential gas assets offshore Ireland, retaining material positions following a farmout process utilising the Board’s extensive network of industry relationships developed over many years.

The Group’s strong financial position provides sufficient funding for the exciting CO2 EOR growth strategy onshore Trinidad which sets us apart from other onshore operators. Near-term activities offshore Ireland will focus on building the drilling partnership for a Corrib South well in 2020 and preparing all the materials required to receive regulatory approvals in a timely manner. The campaign offshore Ireland will focus on unlocking the resource potential of the large-scale gas prospects.

Sarah Cope, Predator Oil & Gas Holdings Plc Non-Executive Chairman, commented: “The past few months have been a busy and transformational period for Predator. We have successfully built a business with a material portfolio of assets. We are excited to have entered Trinidad, an emerging area for CO2 EOR operations, which is proven technology currently delivering significant production from mature fields in the USA. As we are moving into the next stage of growth, our CO2 EOR operations are fully funded thanks to the capital raised this year.

Management’s long track record offshore Ireland as gas explorers and producers, has allowed us to create a portfolio of attractive gas assets, including discovered gas adjacent to infrastructure, that differentiates Predator as the leading company offshore Ireland in relation to developing near-term indigenous gas resources to address fears over security of gas supply.

Predator has rapidly demonstrated its ability to deliver a strong portfolio of assets for its shareholders; these form the foundation for near-term growth through cash flow and portfolio management focused on delivering medium-term value through the drill bit.”