The extension will facilitate the drilling of the MOU-5 well to evaluate the 68-square-mile (177-square-kilometer) Jurassic structural closure in a crestal.
Predator Oil & Gas has announced the exercise of share options by Directors and a Directors loan to further develop its asset portfolio. Exercise of options and Directors loan will provide aggregate additional net funds of £1,256,880 for the expansion of the MOU-1 testing programme in Morocco and the placing of orders for MOU-3 long-lead drilling items, as well as funds to develop its assets in Ireland and Trinidad.