{"id":14692,"date":"2025-02-05T10:59:48","date_gmt":"2025-02-05T10:59:48","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14692"},"modified":"2025-02-05T10:59:50","modified_gmt":"2025-02-05T10:59:50","slug":"morocco-predator-oil-gas-to-raise-2m-to-accelerate-further-2025-drilling-activity","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-to-raise-2m-to-accelerate-further-2025-drilling-activity\/","title":{"rendered":"MOROCCO: Predator Oil &amp; Gas to Raise\u00a0\u00a32M to Accelerate Further 2025 Drilling Activity"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Predator Oil &amp; Gas has announced\u00a0that it has conditionally placed\u00a050 million\u00a0new ordinary shares of no par value in the Company at a placing price of 4\u00a0pence\u00a0each to raise\u00a0\u00a32 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Use of Proceeds<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Proceeds of the Placing, less expenses, will be spent as shown below.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td colspan=\"2\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>USE OF PROCEEDS<\/strong><\/td><\/tr><tr><td><strong>&nbsp; Proposed projects for accelerated drilling<\/strong><\/td><td><strong>Budgeted estimated costs (\u00a3)<\/strong><\/td><\/tr><tr><td><strong><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guercif onshore Morocco<\/em><\/strong><\/td><td><\/td><\/tr><tr><td>1.&nbsp;&nbsp; Drill MOU-6 to +\/- 900 metresAppraisal well for biogenic gasWith exploration upsideEarly Q3 2025<\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,500,000<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong><em>Onshore Trinidad<\/em><\/strong><\/td><td><\/td><\/tr><tr><td>2.&nbsp;&nbsp; Snowcap-3 to +\/- 1,500 metresAppraisal, exploration, developmentQ3\/Q4 2025Long lead well planning and site preparation<\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300,000<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong><em>Administrative<\/em><\/strong><\/td><td><\/td><\/tr><tr><td>3.&nbsp;&nbsp; General working capital and broker expenses<\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200,000<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>TOTAL COSTS<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Paul Griffiths, Chief Executive Officer of&nbsp;Predator Oil &amp; Gas Holdings Plc&nbsp;commented<\/strong>:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;We are delighted to welcome Strategic Investors as cornerstone shareholders in the Company who see the potential shareholder returns the Company could generate by the end of 2025 given our mature portfolio of potentially high-reward drilling opportunities across exploration and appraisal and development of existing hydrocarbon discoveries..<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>MOU-5 and evaluating the large Titanosaurus structure is the immediate next objective and plans are still right on track to commence drilling MOU-5 as previously announced.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Predator Oil &amp; Gas has announced\u00a0that it has conditionally placed\u00a050 million\u00a0new ordinary shares of no par value in the Company at a placing price of 4\u00a0pence\u00a0each to raise\u00a0\u00a32 million. Use &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-to-raise-2m-to-accelerate-further-2025-drilling-activity\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[11769,1629,10339,8541],"class_list":["post-14692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-guercif-onshore","tag-morocco","tag-mou-5","tag-predator-oil-gas","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF.jpg?fit=1767%2C1222&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3OY","jetpack-related-posts":[{"id":12570,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-to-raise-3-3-million-towards-drilling-of-the-mou-2-well\/","url_meta":{"origin":14692,"position":0},"title":"MOROCCO: Predator Oil &#038; Gas to Raise \u00a33.3 million towards Drilling of the MOU-2 Well","author":"","date":"August 17, 2022","format":false,"excerpt":"The Proceeds of the Placing, less expenses, will be spent entirely on high impact and high reward drilling to target the Moulouya Fan penetrated in MOU-1 in 2021. MOU-2 will target the potential reservoir sweet spot for which net Contingent Resources are in the range 295 BCF (Best Estimate) to\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13452,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-raises-2-million-to-fund-mou-3-well\/","url_meta":{"origin":14692,"position":1},"title":"MOROCCO: Predator Oil &#038; Gas Raises \u00a32 million to Fund MOU-3 Well","author":"","date":"March 18, 2023","format":false,"excerpt":"Predator Oil & Gas Holdings Plc\u00a0(LSE: PRD), the Jersey based\u00a0Oil and Gas Company\u00a0with near-term gas operations focussed on\u00a0Morocco\u00a0is pleased to announce that it has conditionally placed\u00a015,500,000 new ordinary shares of no par value in the Company and 20,863,636 existing ordinary shares of no par value in the Company\u00a0transferred by a\u2026","rel":"","context":"In &quot;North Africa&quot;","block_context":{"text":"North Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/north-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF-1.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF-1.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF-1.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF-1.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/morocco-GUERCIF-1.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12059,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-raises-1-035-million-for-drilling-operations\/","url_meta":{"origin":14692,"position":2},"title":"MOROCCO: Predator Oil &#038; Gas Raises \u00a31.035 million for Drilling Operations","author":"","date":"March 18, 2022","format":false,"excerpt":"Highlights\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Secure option on rig to drill within a definitive time window\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Planned construction of two well pads\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Competitiveness in accessing well services and materials enhanced\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Second gas target identified for first well\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Exploration target for Jurassic gas being matured\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Quote received and reviewed for MOU-1 well testing \u00a0Predator Oil\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/morocco-guercif.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12874,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-receives-900000-loan-for-expansion-of-the-mou-1-testing-programme-mou-3-long-lead-drilling-items\/","url_meta":{"origin":14692,"position":3},"title":"MOROCCO: Predator Oil &#038; Gas Receives \u00a3900,000 loan for Expansion of the MOU-1 testing programme &#038; MOU-3 long-lead drilling items","author":"","date":"November 28, 2022","format":false,"excerpt":"Highlights\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Commencement of MOU-2 drilling currently projected for\u00a0mid-December 2022\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0All remaining well inventory and drilling materials on way to Morocco\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Exercise of options and Directors' loan will provide aggregate additional net funds of\u00a0\u00a31,256,880\u00a0for the expansion of the MOU-1 testing programme and the placing of orders for MOU-3 long-lead drilling items\u00a0\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13768,"url":"https:\/\/www.oilnewskenya.com\/index.php\/predator-oil-gas-commences-mou-4-drilling-operations\/","url_meta":{"origin":14692,"position":4},"title":"MOROCCO: Predator Oil &#038; Gas Commences MOU-4 Drilling Operations","author":"","date":"July 5, 2023","format":false,"excerpt":"Predator Oil & Gas\u00a0with near-term gas operations focussed on Morocco, is pleased to announce that the MOU-4 well commenced drilling on\u00a029 June 2023\u00a0at the start of the Eid holiday in Morocco. The well is currently setting the 95\/8\" casing. Predator is operator of the Guercif Petroleum Agreement onshore Morocco which\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/morocco-GUERCIF.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/morocco-GUERCIF.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/morocco-GUERCIF.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/morocco-GUERCIF.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/morocco-GUERCIF.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13068,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-predator-oil-gas-prepares-for-mou-2-drilling\/","url_meta":{"origin":14692,"position":5},"title":"MOROCCO: Predator Oil &#038; Gas Prepares for MOU-2 Drilling","author":"","date":"January 3, 2023","format":false,"excerpt":"Predator Oil & Gas Holdings has announced that the Star Valley Rig 101 is now on the MOU-2 well location. Final preparations are being made to commence drilling. A further update will be given, which is subject to partner approval, when MOU-2 reaches its intended pre-drill total depth of 1,500\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/Morocco-Predator-Oil-Gas.jpg?fit=1200%2C830&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14692"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14692\/revisions"}],"predecessor-version":[{"id":14693,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14692\/revisions\/14693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13405"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}