Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Predator Oil & Gas to float on LSE this week

The group is raising £1.3mln of capital and it has interests in Trinidad and offshore Ireland.
oil and gas operations
IPO shares are being sold at 2.8p.

Predator Oil & Gas Holdings Plc is to be a new listing in London that will bring together two plays that many exploration and production focused investors will likely to be quite familiar with.

The company has a Trinidad based enhanced oil recovery project as well as exploration acreage offshore Ireland.

It is raising £1.3mln of new capital through the London IPO. The placing was said to be “significantly oversubscribed”, the new shares are being sold at a price of 2.8p, and the funding will give the company a market capitalisation of £2.8mln.

“This is an important milestone for the group,” said Paul Griffiths, Predator chief executive.

“Our portfolio of assets has been built to create operational momentum thus ensuring that we are ideally-placed to grow rapidly, as market sentiment in the oil and gas sector improves, and drive returns for all stakeholders."

In Trinidad, the company is poised to fund near-term drilling at the mature, producing Inniss Trinity oil field - in return it will earn a 50% stake - and the well data will flow into the planning for an enhanced recovery venture.

Off Ireland’s west coast, Predator has an exploration licence immediately adjacent to the Corrib gas field (which is the country’s largest established hydrocarbons project). It plans to test potential satellite gas prospects which could potentially be tied-back to the Corrib infrastructure.

The IPO is being run by brokers Optiva and Novum. It is expected that the shares will be admitted on Thursday May 24 to a standard listing on the main market of the London Stock Exchange.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Newswire
November 08 2018

Related Articles

Apollo 11
February 22 2018
Immersive VR, a technology company focused on the education space, was the first company Sure backed
Throne of Glass
October 23 2018
Rowling, Rowling, Rowling ... keep those titles rolling. Mind you, it's not all about Ms Rowling; Sarah J Maas title revenues grew 47% in the first half of the financial year and dieters are gorging on Tom Kerridge's books
Marketing and public relations
April 04 2018
"Our Beyond, MBooth and Publitek agencies have been stand-out performers, whilst we have achieved solid performances pretty much across the portfolio"

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use