Predator Oil & Gas Stays the Course Amid Trinidad Delays and Moroccan Momentum
Predator Oil & Gas (PRD ) has issued a broad operational update covering its portfolio in Trinidad, Morocco and Ireland, with an emphasis on near-term production gains and strategic optionality across its assets. While the company has encountered delays in finalising its Trinidad acquisition, operational progress continues on multiple fronts.
Trinidad: Political Delays, Operational Progress
The company has extended the completion deadline for its acquisition of CEG Trinidad by 60 days to 30 June 2025, citing regulatory uncertainty linked to snap elections in the country. While a delay is never ideal, Predator appears to be navigating the transition with minimal disruption.
On the ground, production workovers at the Bonasse field are delivering promising results, with some wells experiencing significant output boosts. These early gains pave the way for infill drilling, a move aimed at turning short-term technical success into sustained cash flow.
Meanwhile, the Cory Moruga licence is seeing increased activity. Planning has started for the Snowcap-3 appraisal well, targeting a Q4 spud date, and heavy workovers are ongoing at Jacobin-1, with Snowcap-1 next in line. These steps show methodical development intent, albeit with longer timeframes.
Morocco: Gas and Helium in Focus
In Morocco, Predator is set to begin testing the “A” Sand in its MOU-3 well this quarter, with hopes of establishing commercial gas flow. A removable packer will isolate the underlying Ma Sand, where gas potential also remains under evaluation.
There’s also a growing helium angle—desktop studies incorporating MOU-5 data are ongoing, and the company is openly seeking a partner to help unlock this opportunity. While early-stage, helium has drawn increasing investor attention due to its critical role in technology and medicine.
Ireland: LNG Leverage Abroad
In an intriguing development, Predator may apply its existing Mag Mell LNG project template, originally designed for Ireland, to a Moroccan infrastructure tender. If successful, this could open a new strategic front using existing intellectual and regulatory groundwork.
A View from Vox
From an industry observer’s perspective, this RNS paints the picture of a small-cap E&P firm executing a multi-pronged strategy with discipline and realism.
The Trinidad extension, while not ideal does however reflects macro-level political risk rather than project mismanagement. The operational momentum at Bonasse is tangible, and the approach to Cory Moruga suggests a team focused on unlocking long-term value rather than chasing quick wins.
In Morocco, Predator is pursuing a dual path with gas and helium. While this could complicate the narrative for some, it also provides optionality, especially as helium’s strategic value rises globally. Importantly, the company states it is fully funded, which should reassure shareholders in a sector often hamstrung by capital constraints.
The possible reuse of the Mag Mell LNG framework in Morocco is a smart pivot and underscores the company’s growing technical and regulatory capability.
We believe that investors should be cautiously positive. Execution continues amid geopolitical noise, and the portfolio offers multiple shots at goal. But patience and risk tolerance will be required.