Petroleum Africa
Find us on: 
Thursday, April 2, 2020
Predator Oil & Gas provided an update in light of the ongoing worldwide situation with regard to the Coronavirus.
The rig earmarked for drilling the company’s Guercif prospect in Morocco is stacked in a secure yard at SDX Energy, de-manned but ready to be reactivated for use by Predator with very basic routine maintenance when restrictions on travel for essential rig crew and service personnel are eased or lifted. Desktop planning for the well continues at minimal cost and inventory for the well is still available within Morocco. No commercial contracts have been or will be entered into by the Company in respect of drilling until the Coronavirus restrictions permit normal business operations to be resumed. Morocco is impacted by Coronavirus and like Trinidad is not yet at the peak. The Company’s target is to be ‘drill-ready’ to move to execute the drilling program at the appropriate time following lifting of Coronavirus restrictions.
Paul Griffiths, CEO of Predator Oil & Gas Holdings said: “Following our recent equity fundraise of £3.56m before expenses and given that our fixed corporate overheads are very low, the Company is very well-placed to ride out the current worldwide issues which will gradually subside. Our projects are in good order and we are fortunate that with a strong net cash position we are in an excellent position to take advantage of any acquisition opportunities that may arise as a result of the present situation to enhance our portfolio and create additional value for shareholders. Whilst we are opportunistic we remain conservative and focused on our existing projects.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
