Predator Oil & Gas Holdings (LSE:PRD), a Jersey‑based oil and gas company with producing operations and exploration in Trinidad and Morocco, said long‑lead inventory build for Snowcap‑3 is progressing to schedule and that three storage tanks (1,200 barrels total) are being moved to the SC‑3 site to enable near‑term start‑up and testing.
The company said the storage deployment also allows planned re‑entries and interventions on Snowcap‑2ST1 and Jacobin‑1, including a wax treatment pilot and swabbing operations that could, if successful, add an initial 20-40 bopd.
Under the Master Services Agreement with local operator NABI Construction, Predator reported 2,289 barrels of net entitlement oil sold in April at a Heritage fair market value price of US$83.338/bl, delivering a realised operating net‑back of US$31.9/bl after Heritage and Ministry licence costs.
Predator said service orders are being issued, preferred rig negotiations are near conclusion, and that initial SC‑3 production is estimated pre‑drill at 6,000 barrels/month with a stabilised test target of 500 bopd and a minimum 200 bopd to assess storage versus trucking logistics.
An independent Technical Resources Report for MOU‑6 in Morocco has been published, the company said, improving risk‑reward metrics, prompting Predator to resist significant pre‑drill equity dilution and to complete long‑lead items by early August while targeting EIA approval in July for a ~950m well.
Predator said it is focused on satisfying remaining regulatory financial requirements for Corrib South by 30 September to secure a recommendation for successor authorisation, describing the block as a potential strategic gas storage asset adjacent to Corrib.
"We are very pleased with current progress and believe this window of positive sentiment must be exploited before it turns again," Paul Griffiths, Chief Executive Officer, said.
