Highlights
- BON-18 commenced in Bonasse Field
- Expected to take two weeks to drill
- Next well BON-19 to prove up BON-14 producing trend
- 5 to 7 shallow development wells in Bonasse to follow BON-19
- 6 - 8 Heavy Workover programme commencing in Goudron field in February
- Combined programmes forecasted to add between 300 and 400 bopd
- Ties into existing production facilities and sales arrangements
- Culminates in drilling Snowcap-3
- Recent funding ensures Company retains 100% of substantial flow rate potential
Predator Oil & Gas Holdings Plc (LSE: PRD) announces that drilling operations under the Master Services Agreement (the "MSA") with NABI Construction ("NABI") commenced in the Bonasse field on 20 January 2026 with the first well in a multi-well programme, BON-18 (previously designated TPD-CD1).
BON-18 is a redrill of the legacy production well BON-2, which has damaged casing. This is a deeper well to approximately 1,800 feet which is expected to take two weeks to drill on current pre-drill forecasting. The primary objectives are two zones from which good legacy production was achieved.
On completion of BON-18 drilling operations and the tie in of new production the NABI drilling rig moves on to the exploratory well BON-19. This BON-19 well will be the proof of concept for the very shallow BON-14 ("Saffron") trend. The Company anticipates that between 5 and 7 shallow development wells will be drilled following this trend such that upon completion of this phase of drilling operations in the Bonasse field between 200 and 300 bopd of new production will be added through existing facilities and oil sales arrangements.
In the Goudron field a 6-8 Heavy Workover Program shall commence by next month, with the expectation of yielding an additional 100 bopd of new production through existing facilities and oil sales arrangements.
This additional production shall be supplemental to, and contemporaneous with, with the main Snowcap-3 appraisal and development well programme in the Cory Moruga Block forecast to commence in Q2 2026.
Paul Griffiths, Chief Executive Officer of Predator Oil & Gas Holdings Plc commented:
"We are entering an intense period of operational activity over the next 3 months in Trinidad which at the end of which could potentially double our current production output.
We have chosen the option to fund, operate and drill the Snowcap-3 appraisal/development well on a 100% basis as our wholly owned subsidiary (T-Rex Resources) is the exclusive Operator of the Cory Moruga block, where we shall demonstrate our in-house operational capabilities to ensure we are well-placed and qualified to acquire any new attractive opportunities that may or may not become available long-term."