Predator Oil & Gas Holdings PLC: Latest News, Updates, and Opportunities in Morocco’s Gas Sector

2023-09-19 18:46:06

Predator Oil & Gas Holdings PLC – Jersey-based oil and gas company whose near-term gas operations focus on Morocco – reports a pre-tax loss of £2.4m for the six months ended June 30, up from £599m £789 the previous year. Administrative costs almost quadrupled from £599,879 to £2.3 million. The basic loss per share was GBP0.592, up from GBP0.219. Says’ cash balance at the end of the period was £1.0 million, up from £3.3 million. The outlook for the remainder of 2023 foresees the launch and completion of the platform-free testing program in Morocco and, subject to the results, the advancement of the CNG development plan aimed at obtaining the “first gas ” in 2024, adds the company.

Other high-impact drilling opportunities in Morocco will be evaluated and potentially developed in 2023 and 2024.

Current share price: 10.80 pence

Variation over 12 months: +31%.

By Jeremy Cutler, Alliance News reporter

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