The Jersey-based Predator Oil & Gas, a company focused on near-term, high impact drilling for gas in Morocco, has announced its unaudited interim results for the six-month period ended 30 June
Cash balance in period end remains at around US$1.76mn, with no debt.
Geological desk-top studies for MOU-1 confirmed potential for unconsolidated sandstone reservoirs, and the perforating programme was revised to include new shallow gas interval. Potential for biogenic in addition to thermogenic gas was established. The Integration of MOU-1 drilling results with post-well seismic mapping defines the ‘Moulouya Fan’, covering over 30 sq km.
MOU-2 drilling location was finalised. Environmental Impact Assessment for up to three new well locations received regulatory approval. Exclusivity over surplus liquid CO2 supply in Trinidad will be maintained until 2023. Discussions were advanced with Trinidadian operator for an investment in the CO2 EOR business.
Mag Mell Floating Storage and Regassification Project (FSRU) for the import of LNG from non-fracked gas was presented at Ireland's National Energy Summit.