Strategic Developments for MOU-6 Gas Well
On June 9, 2026, Predator Oil & Gas Holdings announced a significant acceleration in the preparations for the MOU-6 gas well in Morocco, following the release of an independent technical report that the company believes enhances the project's risk-reward profile. The London-listed company based in Jersey revealed that the report serves as a strategic document crucial for updating its development strategy in Morocco.
Predator has indicated that the new technical insights have led to an upward revision of the MOU-6 well's attractiveness, while simultaneously diminishing the necessity of a pre-drilling partnership that could result in a considerable dilution of its interests in the project. The operational timeline outlines that the inventory of long-lead equipment necessary for drilling is expected to be finalized by early August 2026, with environmental approval anticipated in July for a planned drilling depth of approximately 950 meters.
Innovative Drilling Strategies and Broader Prospects
The company explained that past challenges encountered during drilling operations and testing without drilling apparatus have been addressed in a new well design. This includes a revised mud density strategy, adjustments to the drilling fluid chemistry, and the utilization of larger-diameter imported perforators. The MOU-6 well is designed to be drilled to a depth of around 950 meters, reflecting a carefully considered approach to mitigate previous operational difficulties.
Furthermore, Predator noted that a pilot development for compressed natural gas (CNG) and/or micro-LNG could require a relatively limited capital amount to demonstrate the commercial viability of gas monetization. However, the company cautioned that valuations are contingent upon drilling success, testing results, commercial viability assessments, regulatory approvals, and market conditions. The validation of an initial gas monetization business model could significantly enhance the potential value of the prospective and contingent gas resources, especially under P50 and P10 scenarios.
In addition to its Moroccan operations, Predator has reported operational progress in Trinidad, where preparations are underway for the Snowcap-3 well as part of the Cory Moruga exploration and production license. The company is on track with the procurement of long-lead equipment and has established a pre-drilling logistics team to secure the site and prepare for the construction of the drilling platform and related production facilities. Discussions regarding the selection of the drilling apparatus are nearing conclusion.
Predator anticipates that the initial production from Snowcap-3 could reach 6,000 barrels per month, significantly higher than the 2,289 barrels produced in April from existing operations. The company's estimates suggest that the operational netback for Snowcap-3 could be $52 per barrel, in contrast to $31.9 per barrel for net sales recorded previously.
Predator Oil & Gas Holdings remains committed to advancing its oil and gas exploration and production initiatives across Morocco, Trinidad, and Ireland, with a focus on long-term viability and strategic growth. With the current favorable political, financial, and regulatory landscape, CEO Paul Griffiths expressed optimism about the company's trajectory, emphasizing that geopolitical tensions in the Middle East have yet to impact its supply chain.
As reported by medias24.com.
