Predator Oil & Gas Holdings Plc, (LON:PRD), an Oil and Gas Exploration Company, today provided a licence update regarding Licensing Option 16/26 located in the Slyne Basin 18 kms. from the Corrib gas field. LO 16/26 is operated by Predator Oil and Gas Ventures Ltd. (50%), a wholly-owned subsidiary of the Company, on behalf of its partner Theseus Ltd. (50%), collectively referred to as the “JV Partners”. LO 16/26 contains the undrilled Triassic Corrib South gas prospect.
Predator can confirm that the JV Partners have elected to apply to the Minister of State at the Department of Communications, Climate Action and Environment to convert LO 16/26 into a Frontier Exploration Licence.
Paul Griffiths, CEO of Predator Oil & Gas Holdings said: “We are very pleased that the JV Partners under the operatorship of Predator, have applied to convert the Licensing Option containing the Corrib South prospect to a Frontier Exploration Licence. We look forward to progressing our operational plans both in Ireland and onshore Trinidad and will provide further updates as and when appropriate.”
Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in 2 infill production wells in H1 2018 in the Inniss Trinity oil field onshore Trinidad, which will potentially provide early cash flow and information for a Pilot Enhanced Oil Recovery project using locally-sourced carbon dioxide for injection into the oil reservoirs (“C02 EOR”). Expansion and growth potential is focussed on the acquisition of assets with C02 EOR potential. In addition, Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland adjoining Shell’s Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea. The Company has a highly experienced management team with a proven track record in the oil and gas industry.
