Wednesday 21 September 2022

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, notes the announcement yesterday by the Department of the Environment, Climate and Communications of the "Review of the security of Ireland's electricity and natural gas systems" (the "Review").

The Company notes that Floating Storage and Regassification Units ("FSRU's") are now being considered as options for the import of Liquefied Natural Gas ("LNG") to support security of energy supply.

Following the publication of the Review the Company intends to submit the Mag Mell FSRU Project, which it has been working on for the past two years, to the public consultation process which will run until the 28th October.

The Review can be found at:

https://www.gov.ie/en/consulta...

Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented:

"The public recognition that FSRU's are being considered as an option for Ireland's security of gas supply during the Energy Transition is a major breakthrough for the Company and its shareholders. This follows several months of intensive marketing of our Mag Mell project, beginning at the National Energy Summit in Dublin in April this year and culminating in our "White Paper".

We are pleased to be at the forefront of developing pragmatic solutions for the Energy Transition. We look forward to continuing to work with our international and domestic collaborators to demonstrate the uniqueness of Mag Mell as a potential option for the development of a FSRU facility by re-purposing existing infrastructure."