Predator Oil & Gas Holdings Plc is moving closer to drilling its Snowcap-3 well in Trinidad after awarding the civil engineering contract for the site and associated production facilities, while recently admitted shares have strengthened its capital base ahead of drilling and testing programmes in Trinidad and Morocco.
Snowcap-3 site works begin in Trinidad
Predator has appointed NABI Construction to undertake civil engineering work for the Snowcap-3 drilling location and related production facilities, with site activities beginning immediately.
Snowcap-3 is planned as a vertical well drilled to approximately 5,450 feet, with drilling expected to take around 20 days.
The well will target the Herrera #8 and Herrera #1 Sands, which have previously demonstrated commercial oil flows.
Once drilling is completed, Predator intends to carry out an extensive testing programme aimed at determining and optimising stabilised daily oil production rates.
Drilling results could provide key commercial data
The Snowcap-3 programme represents an important step in assessing the commercial potential of Predator’s Trinidad operations.
By targeting formations that have previously produced commercial oil flows, the company is pursuing what it describes as a relatively low to moderate risk programme with potentially significant implications for its asset portfolio.
The testing phase will be particularly important. Establishing sustainable daily flow rates would provide investors with more concrete information about the production potential of the targeted reservoirs.
Predator expects its drilling and testing activities across both Trinidad and Morocco to be completed by early November, creating a concentrated period of operational catalysts.
New shares strengthen Predator’s capital base
Alongside the operational update, Predator confirmed the admission of two substantial tranches of new ordinary shares to trading on the London Stock Exchange’s main market during January and May 2026.
The additional equity has increased the company’s capital base as it advances its drilling programmes.
For shareholders, the increased share count needs to be considered alongside the potential value created through successful exploration and development activity.
Predator’s ability to translate its available capital into commercially sustainable hydrocarbon production will therefore remain an important measure of execution.
Morocco adds another drilling catalyst
Predator’s near-term activity is not limited to Trinidad. The company is also progressing its Moroccan gas interests, with drilling and testing there expected to conclude within the same early-November timeframe.
Its Moroccan portfolio includes onshore gas prospects that could potentially support compressed natural gas or micro-LNG development.
The company views Morocco’s gas pricing, fiscal terms and proximity to infrastructure as supportive of potential future development.
Running programmes in Morocco and Trinidad gives Predator multiple potential operational catalysts, although successful drilling and testing will be necessary to establish the commercial significance of the targeted resources.
Financial performance remains a risk
Predator’s financial position remains a significant consideration despite the recent increase in its capital base.
The company continues to report substantial losses and cash burn, although a recent revenue improvement provides some evidence of operating progress.
Technical indicators are also mildly negative, with Predator shares trading below key moving averages and MACD remaining negative.
With the company still loss-making and therefore carrying a negative price-to-earnings ratio, its investment case remains closely linked to operational delivery. Results from Snowcap-3 and the wider Trinidad and Morocco programmes could therefore become important indicators of whether Predator can move its asset portfolio towards stronger commercial production.
More about Predator Oil & Gas Holdings Plc
Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas company with hydrocarbon operations and exploration interests focused on Trinidad and Morocco.
In Morocco, the company is developing onshore gas prospects with potential CNG and micro-LNG applications. Its strategy is supported by local gas pricing, fiscal terms and access to nearby infrastructure.
Predator’s Trinidad portfolio focuses on onshore oil opportunities, including production enhancement and infill drilling. The company works with NABI Construction under a Master Services Agreement and receives 30% of gross sales revenues from local operations.
Its strategy is centred on using targeted drilling, testing and production improvements to demonstrate commercial hydrocarbon flow rates and advance its portfolio towards greater cash generation.
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