27th Oct 2020 15:13
Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company with operations in Trinidad, Morocco and Ireland - Obtains a WO1 approval notification to restore, though a well workover, its AT-5X CO2 injection well in Trinidad to oil production. Approval is granted by Trinidad's Ministry of Energy & Energy Industries, which also approves injecting CO2 into the AT-13 well in the AT-4 Block in the Inniss-Trinity field. This follows previous approval granted for the commissioning and use of Predator's dedicated CO2 recovery system at the FRAM Exploration Gathering Station #4 in the Inniss-Trinity field.
Chief Executive Paul Griffiths says: "The announcement today completes the approval procedures necessary for entering into the extended phase of CO2 injection and simultaneous oil production for the pilot CO2 EOR project. We are pleased to have progressed matters to completion despite the Covid-19 constraints. We are demonstrating our ability to work together with our excellent in-country team of partners to maintain operational progress through adversity to deliver results."
Current stock price: 3.40 pence; up 7.8% on Tuesday
Year-to-date change: down 41%
By Anna Farley; [email protected]
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