olivLaw · European equity research
Predator Oil & Gas Holdings PLC PRD.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
Predator Oil & Gas Holdings PLC is a London-listed company focused on mature oil fields in Trinidad, operated through the NABI services agreement, which gives it a share of revenues without bearing field operating costs. Current interest stems from the plan to bring the Snowcap-3 well into production in 2026, subject to executing the planned programme, with a reported gross production of 367 bopd since acquisition.
At the close of 05 Nov 2026, Predator Oil & Gas Holdings PLC (PRD.L) stock was 0.01 GBP (+0.00% on the day), with market capitalisation 3.7 m GBP, beta 0.22, 52-week range 0.01–0.05 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 24.0
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.00 – 0.03
- in the lower half of the band · %B 0.27 · band width 165.2%
- SMA 50 / 200
- 0.02 / 0.03
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −68.6% | −0.6% | −68.0 pp | — |
| 3 months | −68.6% | −4.2% | −64.5 pp | — |
| 6 months | −74.3% | +4.3% | −78.6 pp | — |
| Year to date | −72.4% | +7.5% | −79.9 pp | — |
| 1 year | −68.1% | +9.9% | −78.0 pp | +5.8% |
| 3 years | −91.7% | +49.8% | −141.5 pp | +26.3% |
| 5 years | −83.2% | +42.8% | −126.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | 0 | 938.8 k |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | -4.2 m | -2.1 m | -3.0 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.01 | -0.00 | -0.00 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | -319.0% |
| Free cash flow | -1.3 m | -816.6 k | -2.1 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.5 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- 24.1 m GBP
- Total assets
- 34.7 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.41x
- ROE
- -12.9%
- ROA
- -9.7%
- FCF margin
- -222.6%
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | — | 0 | 938.8 k | esef· 12 May 2026verified |
| Cost of revenue | — | 0 | 1.2 m | esef· 12 May 2026verified |
| Gross profit | — | 0 | -285.5 k | esef· 12 May 2026verified |
| Operating income | -4.2 m | -2.1 m | -2.9 m | esef· 12 May 2026verified |
| Interest expense | 87.3 k | 0 | 163.8 k | esef· 12 May 2026verified |
| Pre-tax income | -4.2 m | -2.1 m | -3.0 m | esef· 12 May 2026verified |
| Income tax | 0 | 0 | 0 | esef· 12 May 2026verified |
| Net income | -4.2 m | -2.1 m | -3.0 m | esef· 12 May 2026verified |
| Diluted EPS | -0.01 | -0.00 | -0.00 | esef· 12 May 2026verified |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 6.5 m | 3.8 m | 1.5 m | esef· 12 May 2026verified |
| Receivables | 1.9 m | 213.3 k | 1.5 m | esef· 12 May 2026verified |
| Inventories | — | 0 | 124.4 k | esef· 12 May 2026verified |
| Current assets | 8.4 m | 4.0 m | 3.2 m | esef· 12 May 2026verified |
| Property, plant & equipment, net | 1.2 k | 1.1 k | 2.9 m | esef· 12 May 2026verified |
| Intangibles (excl. goodwill) | 17.5 m | 21.6 m | 26.2 m | esef· 12 May 2026verified |
| Total assets | 25.9 m | 26.8 m | 34.7 m | esef· 12 May 2026verified |
| Accounts payable | 4.3 m | 4.5 m | 7.8 m | esef· 12 May 2026verified |
| Current liabilities | — | 4.5 m | 7.8 m | esef· 12 May 2026verified |
| Total liabilities | 4.3 m | 4.5 m | 10.6 m | esef· 12 May 2026verified |
| Equity | 21.6 m | 22.3 m | 24.1 m | esef· 12 May 2026verified |
| Shares outstanding at year end | 403.7 m | — | — | esef· 23 Apr 2025derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -1.3 m | -816.0 k | -1.6 m | esef· 12 May 2026verified |
| Capex | 0 | 657 | 451.6 k | esef· 12 May 2026verified |
| Free cash flow | -1.3 m ≈ | -816.6 k ≈ | -2.1 m ≈ | esef· 12 May 2026derived |
| Investing cash flow | -10.0 m | -4.1 m | -3.6 m | esef· 12 May 2026verified |
| Financing cash flow | 14.5 m | 2.2 m | 2.9 m | esef· 12 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 3.7 m GBP
Key indicators
Coverage and freshness
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -319.0% | 6 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -17.6x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 0.4x | 0 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -56.0% | 0 (on a fixed band) | 33% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial6/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PREDATOR OIL & GAS HOLDINGS PLC (PRD.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 938.8 k GBP in 2025; net margin -319.0%; ROE -12.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -319.0%
- Interest coverage: -17.6x
- Current ratio: 0.4x
- FCF yield: -56.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| PRD.LPredator Oil & Gas Holdings PLC | 3.7 m | — | -12.8% | -319.0% | unavailable | −67% / −90% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for PRD.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Predator Oil & Gas Holdings PLC is a London-listed company focused on mature oil fields in Trinidad, operated through the NABI services agreement, which gives it a share of revenues without bearing field operating costs. Current interest stems from the plan to bring the Snowcap-3 well into production in 2026, subject to executing the planned programme, with a reported gross production of 367 bopd since acquisition 1.
SWOT
Strengths
- Field operating costs are borne by the NABI partner, and the company receives a share of revenues without direct operating investment.
- A tax regime with accumulated tax losses can reduce the effective profit tax rate, improving net cash flow.
- The portfolio includes fields with superior-quality crude and secondary recovery projects that could expand the production base.
Weaknesses
- Margins on the Goudron and Inniss-Trinity fields are lower due to fiscal terms and royalties on early production.
- The company has limited financial resources and relies on field cash flow to fund new projects.
- Activity depends on a small number of operators and contracts, increasing exposure to execution delays.
Opportunities
- Bringing Snowcap-3 into production in 2026 could generate material revenue and support future investment.
- Secondary recovery and CO2 sequestration projects could open access to environmental funding or strategic partners.
- Securing the successor authorisation for the offshore Ireland licence could create a divestment opportunity.
Threats
- A fall in crude prices could significantly reduce revenues and the capacity to finance drilling.
- Dependence on contractors and skilled personnel can lead to delays, cost increases or labour disputes.
- Energy policy changes and risks of expropriation or contract modification could affect assets abroad.
Risks
- Oil price riskhigh
Oil and gas prices are volatile and can directly affect financial performance and the value of the shares, as the report notes 1.
- Drilling execution riskhigh
Drilling results and resource estimates can differ from expectations, and there is no guarantee of production, making some projects uncertain 1.
- Dependence on third partiesmedium
The company relies on local contractors and equipment, and competition or labour disputes could affect operations 1.
- Tax residency riskmedium
If the company were treated as UK tax resident it could be subject to UK corporation tax on worldwide income, with effects for investors 1.
- Foreign political riskmedium
Operations in several countries are exposed to policy changes, taxes, currency restrictions and expropriation risk 1.
Investment thesis
What would need to be true (bull case)
- If production grows in line with plans and Snowcap-3 comes online, revenues could rise quickly given the low cost base of the NABI operator.
- A model without direct operating costs and short payback periods could support margin improvement.
- Secondary recovery and CO2 EOR projects could attract partners and extra funding, broadening the asset base.
What would break the thesis
- If crude prices fall, margins on mature fields could become insufficient to support planned drilling.
- Cash at the end of 2025 was limited, which could force additional financing or dilution if projects are delayed.
- Dependence on a single local operator and several jurisdictions could expose the group to delays and regulatory change.
What to watch
- Execution and results of the Snowcap-3 well in Trinidad2026
- Production trends in Bonasse, Goudron and Inniss-Trinity against reported levelsQ1 2027
- Progress of partner negotiations for the Moroccan gas project and the MOU-6 well2026
- Decision on the successor authorisation for the offshore Ireland licencenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group holds licences and production arrangements in Trinidad, including the former Challenger Energy Group Trinidad business acquired in 2025, and also has assets in Morocco and offshore Ireland. Under the Master Services Agreement with NABI Construction, the company bears no field operating costs but receives a share of gross revenues after tax and royalties 1. According to the report, the group held 1.5 million pounds in cash at 31 December 2025 and the directors do not expect further funding needs for corporate costs and licences 1.
The operating strategy rests on infill drilling in acquired fields, heavy workovers to restore older wells, and screening of secondary recovery options including CO2 EOR pilots. The report says NABI completed two infill development wells and one HWO commitment in the Goudron field by the end of 2025 1.
The lower-cost in-country operator model is presented as the reason investments pay back faster than in the company's own operations. Management ties growth prospects to 2026 production, staged investment depending on cash flow and oil prices 1.
Segments
Bonasse field
Bonasse, acquired in 2025, has 12 active wells and focuses on the Upper Cruse sands. The strategy is shallow infill drilling at low cost, which can pay back in under six months, after which the company's share reverts to 30% of revenues 1.
Goudron field
Goudron has 63 active wells and crude of better quality than Bonasse. The focus is heavy workovers to restore older wells, and one NABI infill well could satisfy the current work obligation 1.
Inniss-Trinity field
Inniss-Trinity has 24 active wells and has produced over 23 million barrels historically. A 2021 CO2 pilot indicated potential for secondary recovery, and the current priority is identifying drilling opportunities with material production impact 1.
Market context
The relevant market is mature onshore oil fields in Trinidad, where low-cost local operators can bring remaining resources into production quickly. The report uses a WTI reference price of 60.27 dollars per barrel to calculate operating net-backs, and margins differ widely between licences because of fiscal terms 1.
The environment is shaped by crude prices and financing costs, and the report notes that price movements depend on factors largely outside the company's control. If prices rise, cash flow could support additional drilling 1.
Trends
- Low-cost local operatorstailwind
The NABI model allows cost recovery within 9 to 18 months, which could accelerate the transformation of fields into profitable operations 1.
- Oil price volatilityheadwind
The report stresses that oil prices are volatile and depend on demand, inflation and monetary policy. Lower prices could reduce revenues and company value 1.
- Secondary recovery and CO2 storagemixed
Secondary recovery and CO2 sequestration projects could raise production and open access to environmental funds, but they require financing and partners the company has not yet secured 1.
- Political and regulatory uncertaintyheadwind
Changes in energy policy and risks around taxes and royalties could affect group operations across several jurisdictions 1.
Competitive position
The company competes with other Trinidad operators for contractors, equipment and skilled personnel, which can raise costs or delay work. The report cites competition for reliable contractors in Morocco and Trinidad 1.
The stated advantage is the NABI arrangement with a local operator that has its own rigs and well services, reducing costs and accelerating payback compared with larger operators 1.
- NABI Construction
In-country operator in Trinidad providing rigs and well services under a services agreement with the company, central to its business model.
- West Indian Energy Group Limited
Entity that assumed the liabilities of the former Challenger Trinidad business as part of the transaction structure.
- Other Trinidad oil operators
Other operators in Trinidad competing for contractors, personnel and equipment needed for drilling.
- Oil operators in Morocco
Companies active in Morocco competing for services and personnel in the group's gas projects.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202512 May 2026
- Annual report 202423 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Predator Oil & Gas Holdings PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.