Casablanca – Predator Oil & Gas Holdings PLC (LSE: PRD) is set to accelerate its operations in Morocco with a series of strategic developments and a newly secured $2.5 million investment. The funds, raised from institutional investors, will primarily support the company’s ambitious drilling plans at the MOU-5 well in Guercif, Morocco.
Since the start of drilling operations in April 2024, the Guercif site has shown promising signs, with the MOU-5 well scheduled to be drilled between April and May 2025. Located near the Maghreb Gas Pipeline, this project offers significant infrastructure advantages, notably reducing future costs and lead time to production.
Paul Griffiths, Executive Chairman of Predator, emphasized the strategic importance of the MOU-5 drilling:
“The MOU-5 well represents a critical step in unlocking the potential of the large Jurassic structure in this region. Its location near the Maghreb pipeline offers a considerable advantage, potentially lowering capital expenditure and shortening the time to bring gas to market.”
In addition to the MOU-5 well, the company is keen to explore the helium deposits discovered at the site in September 2024. This adds another layer of value to the project, highlighting the potential for both gas and helium production in the region.
To ensure that these plans move forward without delay, Predator Oil & Gas has successfully secured institutional backing. The recent $2.5 million funding raise will also support the company’s exploration efforts and strengthen its position in the Moroccan oil and gas market.
The capital will be allocated toward advancing the MOU-6 well in Guercif, planned for early Q3 2025, as well as operational costs for other ongoing drilling activities in Trinidad. The company has also highlighted that the funds will help support general working capital and broker expenses as part of its broader strategic goals.
Despite challenges in early 2024, including stock price declines following issues at the MOU-1 and MOU-3 wells, Predator remains confident in its growth potential. The company reassured investors that it is fully funded to carry out additional operations and maintain focus on its promising drilling sites in Morocco.
With both helium and gas potential at Guercif, alongside its proximity to established infrastructure, Predator Oil & Gas is positioning itself as a key player in Morocco’s growing energy sector.