Predator Oil & Gas books loss; eyes prospects in Morocco, Trinidad
Source - SMW
Predator Oil & Gas booked a first-half loss as it continued to develop its prospects in Morocco and Trinidad.
Pre-tax losses for the six months through June amounted to £512k, compared to losses of £305k on-year.
Operating losses were £512k, compared to £792k on-year.
Predator Oil & Gas had £728k cash at the end of June, plus a further £1.18m of restricted cash.
'During the reporting period losses have been reduced and cash and restricted cash increased whilst adding the potentially transformational for the company Moulouya_1 prospect in Morocco,' chief executive Paul Griffiths said.
'We excitedly await the early turn of the drillbit.'
'Multiple prospects and leads have been identified in the area of the Guercif PA to ensure that there is significant "running room" in this sparsely drilled prospective area.'
'The directors look forward to significant news flow and an exciting time for its shareholders during the next six months as it continues with plans to drill the Moulouya_1 Prospect and progress to production in Trinidad.'
'Ireland too could potentially offer some exciting medium-term M&A opportunities as security of energy supply becomes potentially of even greater significance if Brexit is successfully completed.'
At 1:58pm: (LON:PRD) Predator Oil Gas Holdings Plc Ord Npv share price was 0p at 4.7p