Rabat – Predator Oil & Gas reported £1.52 million ($2.06 million) in net petroleum revenue for the first half of 2026 as the company prepares to begin drilling at its MOU-6 well in Morocco.
The Jersey-based oil and gas company said it sold 52,130 barrels of oil between January and June from its producing fields in Trinidad. The revenue figure is before operating costs.
Civil engineering work for the MOU-6 well pad in Morocco has been completed, marking a key step toward the start of drilling operations.
The company said explosives needed for perforating guns used during well testing have arrived at a Moroccan port. Predator described the equipment as the most important long-lead item for deciding when to move the drilling rig to the site.
Morocco offers a relatively quick route to commercial gas production
Predator CEO Paul Griffiths said the company expects to have a date for the start of MOU-6 operations within the next two weeks, based on the current schedule.
“Successful well testing with flow of hydrocarbons is the catalyst for finalising commercial deals and financing arrangements for development based on potentially attractive revenue forecasts. Speculating with regard to such arrangements at this time is mis-guided,” Griffiths said.
The MOU-6 well is part of Predator’s exploration activities in Morocco, where the company is focused on developing onshore gas resources. The company said successful testing and evidence of hydrocarbon flow would help it move toward commercial agreements and financing for future development.
Predator also reported progress in Trinidad, where preparations for the Snowcap-3 well are proceeding on schedule. The company said recent work on the GY 664 well in the Goudron field has produced steady output of between 30 and 32 barrels of oil per day during August.
Predator said its Moroccan assets could offer a relatively quick route to commercial gas production through compressed natural gas or micro-liquefied natural gas projects.
The company has previously identified the structure targeted by its MOU-1 and MOU-3 wells as having strong hydrocarbon potential and said it remains a key focus for further appraisal and possible development.
