Predator Oil & Gas raises £3m for Moroccan, Trinidadian and Irish operations
Economy
Predator Oil & Gas Holdings has raised £3 million through a share placement aimed at financing the advancement of its operations in Morocco, Trinidad and Tobago and Ireland.
The London-listed oil and gas company plans to issue 85.714.286 ordinary shares at a unit price of £0.035.
The operation also includes six million subscription warrants, exercisable at the same price over a three-year period.
The net funds raised from this placement are intended to support the group's onshore drilling activities in Trinidad and Tobago and Morocco.
A portion of the envelope will also be allocated to the analysis of the Corrib South prospect, located off the coast of Ireland.
For Predator Oil & Gas, this fundraising round takes place in a development phase of its energy assets, with a particular interest in its onshore operations.
Morocco is thus among the regions expected to directly benefit from the resources mobilized by the group.