Edwin Coe advises on Predator Oil & Gas main market placing

Edwin Coe is pleased to announce that Daniel Bellau, along with Associate Henry Wright, advised Fox-Davies Capital Limited and Novum Securities Limited, as joint brokers in respect of a placing for Predator Oil & Gas Holdings PLC. The placing of new ordinary shares was oversubscribed and raised £10 million, at an issue price of 11p, from institutional investors. The company will use the proceeds from this placing to fund a testing programme to test feasibility for a compressed natural gas development in Morocco.

Predator Oil & Gas is a Jersey-based oil and gas company, listed on the London Stock Exchange’s Main Market (LSE: PRD). The company is currently undertaking exploration and appraisal drilling for gas onshore in Morocco; exploration and appraisal drilling for oil onshore in Trinidad; and injecting carbon dioxide into existing and potentially future wells in Trinidad for enhanced oil recovery and carbon dioxide sequestration. It has a further interest in offshore gas fields in the Republic of Ireland’s territorial waters.

Daniel, who is a Partner in Edwin Coe’s Corporate team commented, “I am delighted to have worked with my colleagues at Fox-Davies and Novum on this successful transaction, one of a number of natural resources deals that the experienced capital markets team at Edwin Coe has advised on in recent times. I also wish Predator Oil & Gas every success with their plans.”

You can read Predator Oil & Gas Holdings’ announcement and news release on their website.