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Predator Oil & Gas launches sale process for its Guercif gas asset in Morocco

Faced with the absence of commercially viable results on the Guercif permit, Predator Oil & Gas has initiated a sale process while continuing technical evaluation of the gas potential.

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British company Predator Oil & Gas has announced its intention to divest its 75% stake in the Guercif natural gas exploration permit, located in northeastern Morocco. The project, developed in partnership with the Office National des Hydrocarbures et des Mines (ONHYM), which holds 25%, has not yet demonstrated sufficient commercial viability to justify long-term commitment.

The permit covers an area of approximately 7,269 km², and while the geological potential is estimated at 5.9 trillion cubic feet (TCF), multiple drilling campaigns have failed to identify volumes that could be profitably extracted. The MOU-5 well, drilled in 2025, did not deliver the expected results despite indications of gas. This operation followed the MOU-4 well, drilled in 2023, which had also proven commercially inconclusive.

Strategic repositioning amid geological uncertainty

Predator Oil & Gas, listed on the AIM market of the London Stock Exchange, stated it aims to adjust its strategy in response to the technical data obtained. The decision to divest its rights to the Guercif permit is part of a rationalisation approach, reallocating resources to higher-priority projects. The company’s management outlined this direction in its interim statements from September, following an initial update on MOU-5 in March 2025.

The company has indicated it will continue geological analysis in the meantime, refining its interpretation of existing seismic and drilling data. The stated goal is to provide prospective buyers with updated technical information ahead of the official opening of the sale process.

Permit extension request and continued technical activity

Alongside the sale process, Predator has announced its intention to seek an extension of the permit’s validity period, currently effective until 5 November 2026. This extension would allow the company to retain its rights while finalising technical assessments and concluding discussions with potential partners or buyers.

The divestment of the Guercif permit marks a strategic shift for the British firm, which is reassessing the profitability of its assets amid geological uncertainty and increased focus on investment returns.

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