Predator Oil & Gas Holdings (PRD) H1 2025 earnings summary

Executive summary

• Fully funded for all commitments over the next 12 months, with no loans and a strong cash position of £2.6 million at period end.

• Achieved first oil revenues in Trinidad (£66,815) and expanded producing asset base through acquisitions, notably completing the purchase of Challenger Energy Group's Trinidad operations.

• Strategic agreements in Morocco and Trinidad relieve the company of field operating and investment costs, supporting a stable platform for production growth.

• Focused on unlocking value from Trinidad oil production and Moroccan gas/helium exploration, with Snowcap-3 and MOU-3 as key near-term projects.

Financial highlights

• Revenue for the six months to 30 June 2025 was £66,815, compared to £0 in the prior year period.

• Operating loss increased to £1,650,743 (2024: £978,238), mainly due to a non-cash share-based payment charge of £1,176,935.

• Administrative expenses reduced to £821,277 (2024: £872,485) due to tighter cost controls.

• Cash and cash equivalents at period end were £2,578,090, with an additional £1,093,425 held as restricted cash.

• £2 million raised via share placing; 10 million warrants issued at 6p/share, exercisable within 3 years.

Outlook and guidance

• Positive outlook for the next 12 months, with operational activity focused on production growth in Trinidad and gas development in Morocco.

• Snowcap-3 appraisal/development well in Trinidad scheduled for Q1/Q2 2026, targeting 300–400 bopd initial productivity.

• MOU-3 rigless testing in Morocco ongoing; MOU-6 appraisal/development well planned to address formation damage and unlock gas potential.

• Further acquisitions and M&A activity remain a strategic focus if suitable opportunities arise.