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IN BRIEF: Predator Oil & Gas loss widens as administrative costs jump

19th Sep 2023 19:44

Predator Oil & Gas Holdings PLC - Jersey-based oil and gas company with near-term gas operations focussed on Morocco - Reports pretax loss of GBP2.4 million in the six months to June 30, widened from GBP599,789 the year before. Administrative expenses increased nearly fourfold to GBP2.3 million from GBP599,879. Basic loss per share totalled GBP0.592 compared to GBP0.219. Says cash balance at period end was GBP1.0 million compared to GBP3.3 million before. The outlook for the remainder of 2023 will see the rigless testing programme in Morocco initiated and completed and, subject to results, the CNG development plan being progressed targeting "First Gas" in 2024, company adds.

Additional high impact drilling opportunities in Morocco will be evaluated and potentially progressed in 2023 and 2024.

Current stock price: 10.80 pence

12-month change: up 31%

By Jeremy Cutler, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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