Overview
In Trinidad, Predator owns an 100% interest in the Cory Moruga licence, an onshore near virgin field which contains the undeveloped Snowcap oil discovery and additional well workover opportunities, alongside offsetable tax losses of US$47.9 million.
Predator has significant in-country experience and is the only company in Trinidad that has established “Proof of Concept” for CO2 sequestration in oil reservoirs following its successful Inniss-Trinity CO2 EOR pilot project in 2021.
1c (bo net)
1.04m
3C (BO NET)
1.84m
3P (BO Net)
19.51m
Background
Unlocking resource through use of patented wax treatment
- Predator is looking to reinvigorate production using a patented chemical wax treatment which has led to 3x uplift in well productivities in Saudi Arabian examples.
- A successful wax treatment of Jacobin-1, followed by Snowcap-1, may have a significant implication for potentially increasing cash flow from low-cost well workovers.
Current Status
- Administrative matters progressing smoothly-office established; STOW; bank account
- Site investigation to access old well heads and assess condition completed
- First wells defined on technical basis for first fast-tracked workovers
- Oil production facilities inventory and transport options to sales points assessed.
Next Steps
Snowcap-1 original flow testing
Establish first oil production
Evaluate and potentially acquire additional producing assets
