Predator Oil & Gas Holdings Plc (LON: PRD) has issued an operational update outlining progress across its portfolio in Trinidad and Morocco.
At the SC-3 Snowcap well, targeting an estimated 8.73 million barrels of oil, the company confirmed that a draft rig contract is currently under review. The project is projected to deliver a net-back of approximately $32.6 per barrel, underscoring its potential economic impact.
In Trinidad, shallow oil production continues to advance. Wells BON-18 and BON-19 have been completed, with BON-20 next in sequence. Predator is also undertaking heavy workover operations on three wells at the Goudron field as part of its broader production optimisation strategy.
In Morocco, the Guercif gas monetisation strategy is progressing. The company has requested terms for a full carry through drilling and development, which would include gas sales at the wellhead and repayment of historical costs. Management believes this approach could accelerate development while limiting capital exposure.
Highlights
Trinidad
· SC-3 Snowcap well targeting 2P resources of 8.73 MM bls
· Net-back is US$32.6/bbl
· Star Valley draft rig contract for SC-3 under review
· Rig visit scheduled for week commencing 23 February 2026
· BON-18 and BON-19 wells completed for shallow oil production
· BON-20 next well in sequence
· Goudron field: 3 wells submitted for heavy workover – one completed; one in progress; and one waiting approval
Morocco
· Guercif monetisation a step closer based on updated ITR
· Terms requested for full carry through drilling and development; gas sold at the wellhead and repayment of past costs
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
“We are making good progress on many fronts including infield development drilling; production growth, preparing and contracting for high-reward appraisal drilling; and potentially concluding a transaction that will begin to appraise, confirm and monetise the Moroccan gas discoveries in 2026. At the same time, we must not neglect evaluating new prospectivity such as additional oil reservoirs encountered whilst drilling in Bonasse and the emerging Cretaceous prospectivity.
We seek to prioritise those projects that can generate the highest near-term return for shareholders whilst maintaining flexibility to respond to new drilling results, simultaneously with managing the everyday corporate administrative function.”
For further information visit www.predatoroilandgas.com
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