Predator Oil & Gas : Proactive Investor Presentation – May 2023

Predator Oil & GasHoldings Plc

Corporate Presentation

May 2023

Highly commercial near-term gas development onshore Morocco

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Predator Oil & GasHoldings Plc

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Overview

• Ireland and Trinidad CO2 EOR got the PRD IPO away in 2018 - market cap £2.8 million
• Guercif was a specific "once-in-a-life time" opportunity in Morocco identified in 2011
• Nurtured to the point of signing up the asset in March 2019
• Nimble and realistic management skills applied in a favourable and stable jurisdiction
• MOU-1(2021) discovered over-pressured gas opportunity and MOU-2 (2023) confirmed the extent of the prize
• Now on the cusp of a light-CAPEX Compressed Natural gas development - market cap £25+ million
• Complete the 2023 proposed drilling and testing programme to enable a Financial Investment Decision
• Management ambition is to move the market cap through £100 million towards a £200 million target

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Highlights

• Unique opportunity to create an end-to-end CNG to industries business with substantial value, replacing more carbon intensive energy sources.

• Discovered net 2C gas resources of 295BCF in July 2021 (MOU-1)

• Suspended well MOU-2 proved potential for larger and thicker reservoirs than in analogous onshore Rharb Basin to the West.

• Additional prospectivity in the Tertiary and deeper sequences could increase these resources multi-fold.

• Next step to flow test MOU-1 in June this year to establish commerciality of initial CNG development, requiring the drilling of appraisal wells MOU-3 and MOU-4, for an expected production of up to 34 MMscfd starting as early as Q2 2024.

• MOU-3 (June 2023) will also test shallow MA1/TGB-6 reservoirs with net prospective resources of 320BCF, whilst MOU-4 (July 2023) will test Jurassic "blue sky" 126km² structure (minor gas shows in 1979 offset well).

• Capital-lightphased development approach will limit risk and dilution as well as keep pace with commercial penetration of the potential industrial client base.

• Net CAPEX of US$5M for intial1MMscfd of CNG capacity estimated to generate US$3M p.a. of cash flow (at US$14/mscf) under very favourable fiscal terms (5% royalty after first 10.6 BCF production, 31% tax with 10-year holiday).

• Rig on location and all long-lead drilling inventory purchased for the drilling programme will create significant costs savings.

• Testing technology (Sandjet) new to Morocco will allow for multiple perforations in MOU-1,MOU-3 and MOU-4

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• Management team with proven Moroccan subsurface, drilling and gas marketing experience from 2006

Timeline of development of resources

MOU-3 and MOU-4 long lead items at Guercif

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