Predator Oil & Gas Holdings Plc (LON: PRD) has amended its existing rig contract with Intrepid Drilling Limited to support the drilling of the MOU-6 well in Morocco.
The amendment extends the availability of Rig 101 from 1 August to 1 October 2026, allowing the company to carry out the planned MOU-6 drilling programme.
Operations are expected to begin after 1 August, subject to the delivery of remaining third-party consumables and long-lead equipment currently in transit to the well site.
MOU-6 will be the first well in Predator’s planned three-month drilling and potential testing campaign, followed by Snowcap-3 in Trinidad.
Highlights
· Extensive drilling and potential testing programmes scheduled to be completed over the next 3 months in Morocco (MOU-6) and Trinidad (Snowcap-3).
· MOU-6 will be the first well in the planned programme, followed by Snowcap-3.
· Rig 101 contracted to start operations after 1 August 2026 following final delivery of remaining third-party consumables and long-lead equipment, currently in transit, to the MOU-6 well site.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented: “We are pleased to be entering into a new and exciting phase of drilling activity on two continents for gas and oil during the next 3 months.
The last 15 months have been spent re-building our well-delivery team using all the expertise available to us in Trinidad, Morocco, Tunisia and Canada.
We are very confident that our well planning and pre-drill operational programmes are now compatible with the expected subsurface conditions, defined by our initial drilling in 2021 to 2023, that we are likely to encounter whilst drilling the MOU-6 well.
Successful drilling and potential testing of our geological objectives may facilitate the de-risking of gas and oil resources that are capable of being brought into potential production within a short time framework, subject to the necessary regulatory approvals and technical and commercial due diligence.”
