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Predator Oil & Gas trades up to a premium in London debut

The Trinidad and Ireland focussed explorer raised £1.3mln of capital earlier this week

oil and gas operations
Predator shares traded at 3.12p after today's float

Predator Oil & Gas Holdings PLC (LON:PRD) shares traded up to a premium on its London debut on Thursday as trading began for the standard listed explorer.

In this morning’s deal, Predator share price rose as high as 3.12p.

READ: Predator Oil & Gas to float on LSE 

The explorer, with interests in Trinidad and offshore Ireland, earlier this week raised £1.3mln through an oversubscribed placing, with new shares priced at 2.8p each.

“This is an important milestone for the group,” Paul Griffiths, Predator's chief executive said in a statement on Tuesday.

“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.

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