Predator Oil & Gas Reports Significant Gas Resources in Morocco’s Guercif Region

This report foresees significant net contingent gas resources for the British firm, of 295 billion standard cubic feet of gas, as well as an expected unrisked net present value of $592 million, Predator Oil & Gas Holdings announced. This gives it an additional option for shareholder monetization. According to the London-listed British company, with operations in Trinidad, Morocco and Ireland, a reversal into an entity seeking exposure to the Guercif opportunity should not be ruled out as a future option.

"Management and the largest shareholder would be very supportive of such a decision if the value proposition was sufficiently attractive to shareholders and ensured accelerated realization of the full potential of the Guercif license area," said Paul Griffiths, CEO of Predator Oil & Gas.

The British company operates the Guercif basin as part of a joint venture (75%) with the National Office of Hydrocarbons and Mines (ONHYM) acting on behalf of the Moroccan state (25%).