Predator Oil & Gas Holdings PLC New business development opportunity (2882O)
29 Mayo 2020 - 1:00AM
UK Regulatory
TIDMPRD
RNS Number : 2882O
Predator Oil & Gas Holdings PLC
29 May 2020
FOR IMMEDIATE RELEASE
29 May 2020
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")
Predator LNG Ireland Limited
New business development opportunity
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil
and Gas Company with operations in Trinidad, Morocco, and Ireland,
announces its intention to proceed to apply for a liquefied natural
gas ("LNG") import licence for Ireland following the execution of
confidentiality agreements with a global supplier of LNG and an
owner of LNG regasification vessels.
A new subsidiary company, Predator LNG Ireland Limited, is being
formed to progress the contracting of a Floating Storage and
Regasification Unit ("FSRU") for Ireland with a "send out" gas
capacity suitable both for the "peak demand" gas market and for
long term security and diversity of energy supply.
The FSRU solution will facilitate the import of LNG using gas
feedstock from a transparent origin that is not dependent on
fracking operations related to shale gas exploitation.
The offshore FSRU solution is being designed to utilise existing
infrastructure, creating a very much reduced environmental
footprint. Developing an LNG import and gas storage option is in
line with the "European Commission's sustainable Energy Security
Package" (published 16 February 2016), which includes a
non-legislative European Union strategy for liquefied natural gas
and gas storage aimed at improving the access of all Member States
to LNG as an alternative gas source.
Paul Griffiths, Chief Executive of Predator, commented:
"We have leveraged our practical experience in creating the
regulatory and environmental framework and designing the facilities
and executing the sequestration of anthropogenic carbon dioxide in
Trinidad to create this exciting new business development
opportunity with two global players in the offshore LNG
regasification sector. The strategy fits our core near term goal of
becoming a carbon neutral energy company through creating increased
CO2 sequestration capacity in Trinidad that is funded by
maintaining an energy business with potential for future revenue
growth."
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:
Predator Oil & Gas Holdings Plc Tel: +44 (0) 1534
Carl Kindinger Chairman 834 600
Paul Griffiths Chief Executive Officer Info@predatoroilandgas.com
Novum Securities Limited Tel: +44 (0) 207
Jon Belliss 399 9425
Optiva Securities Limited
Christian Dennis Tel: +44 (0) 203
137 1902
Follow us also on VOX Market https://www.voxmarkets.co.uk/
Notes to Editors:
Predator is an oil and gas exploration company with the
objective of participating with FRAM Exploration Trinidad Ltd. in
further developing the remaining oil reserves in the producing
Inniss Trinity oil field onshore Trinidad, primarily through the
application of C02 EOR technology. Potential for cash flow exists
by executing a Pilot Enhanced Oil Recovery project using locally
sourced liquid carbon dioxide for injection into the oil reservoirs
("C02 EOR"). Near-term expansion and growth potential is focussed
on upscaling the C02 EOR operations in the Inniss-Trinity oil field
and potential acquisitions of assets suitable for C02 EOR
development, subject to all necessary approvals.
In addition, Predator also owns and operates exploration and
appraisal assets in current licensing options offshore Ireland, for
which Successor Authorisations have been applied for, 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.
Predator is operator of the Guercif Petroleum Agreement onshore
Morocco which is initially prospective for Tertiary gas in
prospects less than 10 kilometres from the Maghreb gas
pipeline.
The Company has a highly experienced management team with a
proven track record in the oil and gas industry.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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