Casablanca – UK‑based energy company Predator Oil & Gas Holdings Plc is positioning its Guercif gas project in northeastern Morocco for a potential final investment decision in 2026, following a year of focused technical evaluation, targeted drilling and preparatory work aimed at attracting industrial and financial partners.
The Guercif licence, an onshore exploration area in the Oriental region, remains Predator’s primary energy‑focused asset in Morocco. The company holds a 75 % working interest in the licence, with Morocco’s national oil company, ONHYM, holding the remaining 25 % and carried through exploration activities. The licence spans several thousand square kilometers and is situated near existing hydrocarbon infrastructure, offering logistical advantages should commercial volumes be confirmed.
2025: technical clarification and risk reduction
In 2025, Predator shifted its emphasis from widespread drilling to detailed technical analysis and risk mitigation, laying groundwork for the next phase of the project. A key part of this work was rigless testing and evaluation of existing wells, particularly the shallow “A” reservoir in the MOU‑3 well, which was tested without drilling equipment. These tests clarified the nature of formation damage encountered during prior drilling and confirmed earlier independent interpretations of gas saturations. The resulting data now underpins revised designs for future evaluation wells that aim to preserve reservoir integrity and achieve more stable gas flow rates.
Another focus in 2025 was targeted drilling. Predator commenced drilling operations at the MOU‑5 well in March 2025, penetrating primary reservoir intervals under budget and with improved drilling techniques. While commercial volumes of gas were not definitively confirmed, the well provided important geological insights. Notably, helium indicators consistent with pre‑drill models were observed, and unexpected deep formations — including mobilised Triassic salt and a Jurassic sandstone layer — were encountered, suggesting potential for a deeper TAGI‑type reservoir with promising petrophysical characteristics. These findings support the possibility of future upside beyond the shallow biogenic gas targets.
Resource estimates and 2026 preparations
Predator plans to publish an updated independent resource report in the first half of 2026, incorporating data and interpretations from the 2025 work programme. This report is expected to reassess gas volumes associated with the MOU‑1 and MOU‑3 structures and may extend prospective resource estimates down to approximately 950 m depth if current geological interpretations are validated. Early company estimates from independent technical studies have indicated significant potential gas resources in the licence, with gross recoverable prospective resources in the multi‑trillion cubic feet range, though these figures remain subject to further verification.
A key step that could materially influence these estimates is drilling of the MOU‑6 well, initially scheduled for late 2025 but postponed. This well is designed to test deeper sections of the structure and could confirm additional gas volumes that would substantively support development plans. According to sources, MOU‑6 may help validate or rule out up to tens of millions of cubic meters of additional resources.
Partnerships and development strategy
Predator is actively engaging with potential industrial partners to develop a path toward monetisation. The company’s current roadmap emphasises the development of compressed natural gas (CNG) infrastructure — a lower‑cost route suited to the scale of discovered biogenic gas — with the possibility of adding a small‑scale liquefied natural gas (micro‑LNG) facility if deeper thermogenic resources are confirmed. Discussions with two potential partners are ongoing for a fully financed development scheme aimed at progressive gas monetisation. Such a structure would reduce the financial exposure of Predator while aligning technical and commercial incentives with experienced gas developers.
To support these efforts, Predator has also submitted a regulatory request to extend the exploration licence’s first extension period until November 5, 2026, providing additional time to complete necessary environmental, technical and economic studies ahead of a concession application. This extension is critical, as the company must decide whether to commit to further phases of the licence, including potential commercial development timelines.
Marketing, environmental and commercial readiness
As part of preparatory work, Predator anticipates launching an environmental impact assessment (EIA) and advancing preliminary engineering designs in early 2026. These studies are intended to optimize negotiation frameworks with partners and ensure that development plans are commercially and environmentally sound. Finalisation of a detailed well design for future evaluation and production is also slated in preparation for possible development drilling later in 2026.
While previously discovered gas volumes have been considered insufficient to justify standalone LNG infrastructure, the potential confirmation of additional resources — especially if coupled with favorable proximity to regional pipeline infrastructure — could alter commercial calculus and expand future marketing options. The Guercif licence’s relative closer access to the Maghreb‑Europe pipeline, compared with deeper plays in other Moroccan basins, enhances this prospect.
Looking ahead
2026 is shaping up to be a defining year for Predator’s Guercif project. The updated resource assessment, partner negotiations, environmental and engineering studies, and licence extension decisions will collectively determine whether the company can move from exploration to a structured, financeable development phase. Subject to concluding definitive agreements and securing financing mechanisms, Predator aims to submit a formal exploration and exploitation concession application by the end of the third quarter of 2026, a crucial milestone toward commercializing the gas potential of the Guercif basin.
