Predator Oil and Gas has announced that Caribbean Rex (51% owned by Predator) is acquiring Challenger Energy’s assets in Trinidad for an initial consideration of up to US$6m (US1m only in cash over 3 years). These can be combined with Predator’s assets and should result in synergies and economies of scale. This move will build critical mass within Trinidad. Short term, the market will focus on the drilling of the giant Titanosaurus gas prospect in Morocco where success would provide material upside for shareholders.