Predator Oil loss widens as costs increase; aims to grow company
Predator Oil & Gas Holdings PLC on Friday said it looked forward to growing as it posted an increased interim loss.
The Morocco and Trinidad-focused oil and gas company said pretax loss widened to £1.9 million in the first half of 2025, from £1.0 million a year prior.
Share-based payments cost was £1.2 million compared to £169,044.
Revenue was £66,815 compared to none.
Looking ahead, Predator Oil said the completion of the acquisition of Challenger Energy Group’s businesses, producing assets and operations in Trinidad are expected to complete during the third quarter of 2025.
Chair Stephen Boldy said: ‘We look forward to growing our company further through the rest of 2025 and beyond through the same strategy of acquiring and rehabilitating producing assets with incremental production potential; exposure to large scale upside with a moderately higher risk profile; and using management’s creativity and experience to develop new opportunities. At some point in the growth cycle critical mass may be reached that potentially generates a divestment opportunity of a well-managed asset.’
Chief Executive Officer Paul Griffiths said: ‘The outlook for the next 12 months is positive and filled with operational activity. M&A is also a strategy at corporate level if and when the right opportunities present themselves. Our in-house team has used practical experience, creativity and expertise in carrying transactions across the line without the requirement for expensive third-party input. Substantive progress has been achieved by our team against the background of volatility in the financial and public markets caused by global events. We see this as an opportunity and not an excuse.’
Predator Oil shares fell 8.7% to 3.06 pence each late Friday morning in London.
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