FOR IMMEDIATE RELEASE  

 10 November 2022

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

Further issue of 10,000,00 new Ordinary Shares

Partial return of shares to Paul Griffiths

As announced on 17 August 2022 as part of the Company's placing to raise £3.3 million (the Placing), when the Company has the ability to issue further shares, the Company intends to issue Paul Griffiths 15,000,000 new Ordinary Shares and take all necessary steps in order to put Mr Griffiths back into the position that existed, in terms of his aggregate shareholding in the Company, had he not made the transfer of 15,000,000 of his Ordinary Shares in order to settle the Placing.

The Company now has such ability and accordingly is pleased to announce that it intends to issue 10,000,000 new Ordinary Shares (the "Issue Shares") of no par value in the Company to Paul Griffiths (the "Further Issue") in order to part fulfil the Company's obligation to return 15,000,000 Ordinary Shares to Paul Griffiths.

The Further Issue utilises most of the Company's existing headroom shares under the Financial Conduct Authority restrictions for companies on the Official List (standard listing segment) of the London Stock Exchange's main market for list securities.

Novum Securities are acting as joint broker to the Company.

Completion of the Further Issue

Completion of the Further Issues is conditional on, inter alia:-

the Issue Shares being admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") on or around 15 November 2022 (or such later date as may be agreed by the Company and Novum Securities).

Admission, Settlement and Dealings in Issue Shares

Applications will be made to the FCA and to the Main Market of the London Stock Exchange for Admission in respect of all the Issue Shares proposed to be issued on completion of the Further Issue. It is expected that Admission will become effective, and that dealings in the Issue Shares are expected to commence, at 8.00 a.m. on or around 15 November 2022.

The rights attaching to the Issue Shares will be uniform in all respects and all of the Issue Shares will rank pari passu, and form a single class for all purposes with, the existing issued shares of no par value in the Company.

Following the Further Issue, the enlarged Share Capital will be  365,598,217  ordinary shares of no par value.

Directors' Holdings

Following the issue of the Ordinary Shares as described above, and inclusive of shares and options already held by Directors, the  positions held by the Directors is as follows:

*

5 million shares loaned to the Company to complete a Placing announced on 17 August 2022  are to be returned to Paul Griffiths by the Company when the Company has the ability to issue further shares.

Details of the 2018 and 2020 option awards may be found in the Company's annual report.

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being the closing mid-market price on 4 July 2022, and will vest after 6 months.

Options issued on 9 November 2022 to Carl Kindinger are exercisable at 7.75 pence per share, being the closing mid-market price on 8 November 2022 and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.

Options issued on 9 November 2022 to Paul Griffiths and Lonny Baumgardner are exercisable at 10.0 pence per share and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.

Total Options and Warrants on issue

The total options and warrants outstanding in the Company are as follows:

(1)  18/5/18 options are exercisable at 2.8 pence per share

(2)  27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers at  

an exercise price of 2.8 pence per share (160,718 on 24 May 2018),    12 pence per share (2,000,000 on 15 February 2019), 4 pence per  share (2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share (690,000 on 28 March 2022) and 5.5 pence per share (3,600,000 on 23 August 2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's 2021 Annual Report and Financial Statements.

(4) 8,855,486 options are exercisable at 5.66 pence per share.

(5) 4,000,000 options are exercisable at 8.125 pence per share.

(6) 15,000,000 options are exercisable at 10 pence per share

       2,000,000 options are exercisable  at [xxx] pence per share

If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be £3,905,636.

For further information visit www.predatoroilandgas.com

Follow the Company on twitter @PredatorOilGas.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

For more information please visit the Company's website at www.predatoroilandgas.com: 

Enquiries:

Notes to Editors:  

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up testing programme is being finalised to coordinate with a further drilling programme beginning in 2022.

Predator is seeking to further develop the remaining oil reserves of Trinidad's mature onshore oil fields through the application of CO2 EOR techniques and by sequestrating anthropogenic carbon dioxide to produce "greener" oil.

In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.

Predator has developed a Floating Storage and Regasification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.

The Company has a highly experienced management team with a proven track record in operations in the oil and gas industry.