Issuance of Share Options

FOR IMMEDIATE RELEASE

 27 October 2020

               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")

                      Issuance of Share Options 

Predator Oil & Gas Holdings Plc (Predator), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, advises of the issuance of previously unallocated options over new Ordinary Shares from an existing approved scheme.

Issuance of Options to Executive Directors

The Board's Remuneration Committee has resolved to make the following award of unallocated share options under the Company's existing approved option scheme: 

To the CEO:
-     Award of 3,850,000 Options

To the Project Development Director:

-    Award of 3,850,000 Options 

The Board has also resolved to make the following award of unallocated share options under the Company's existing approved option arrangements:

To each of the non-Executive Directors:
-    Award of 1,650,000 Options 

Aggregate Information

Directors' Holdings

Following the issue of the options to Directors as described above, and inclusive of shares and options already held by Directors, the aggregate position held by the Directors is as follows: 

¹  Carl Kindinger retired 29 June 2020

¹  Sarah Cope resigned 19 July  2019

(1) Options issued on 18 May 2018 are exercisable at 2.8 pence per share and shall vest in three separate tranches based on the following performance criteria:

(2)  Options issued to Executive Directors on 27 October 2020 are exercisable at 5 pence per share and shall vest based on the following performance criteria:

    Injection/Sequestration of 600MT Liquid CO2 has been

    achieved at the CO2 EOR Pilot Project under the Well

    Participation Agreement between Predator Oil & Gas

    Trinidad Ltd and FRAM Exploration Trinidad Limited

    dated 17 November 2017.

OR

    A production test at AT-5X has flowed First Oil.

OR

    An average daily increase of 75% in Oil Production at AT-12

    measured against historical production at AT-12 over the

    period 1 January / 30 April 2020 immediately prior to CO2 

    injection at AT-4 Block commencing 18 May 2020

(3) Options issued to non-Executive Directors on 27 October 2020 are exercisable at 5 pence per share and shall vest on the date that is six months after their award.

Total Options and Warrants on issue

Following the issuances of the options announced herein, 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 warrants issued to Company advisers and warrants issued to Arato Global Opportunities LLC at an exercise price of 12 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 £1,498,384.

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 an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves in the producing Inniss Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing a Pilot Enhanced Oil Recovery project using locally sourced liquid carbon dioxide for injection into the oil reservoirs ("C02 EOR"). Near-term expansion and growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field and potential acquisitions of assets suitable for C02 EOR development, subject to all necessary approvals. 

In addition, Predator also owns and operates exploration and appraisal assets in current licensing options offshore Ireland, for which Successor Authorisations have been applied for, adjoining Shell's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea.

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is initially prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.

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