Autumn Catflap

RNS Number : 8432B

Wildcat Petroleum PLC

05 October 2022

 

WILDCAT PETROLEUM

AUTUMN CATFLAP

OCTOBER 2022

Caption: Wildcat shaking hands with CEO of Sudapet Mr Ahmed Ziada on his right, and Sudan's Oil minister Mr Muhammad Abdullah on his left, together agreeing to work together to develop Sudanese oil reserves.

The last quarter has been another exciting and busy one for the Company.

Firstly, I would like to welcome to the Wildcat family Waterford/Mr Kroupeev and their network of ultra high net worth natural resources investors(*). The Sunday Times in London chose to write about us (on 2nd October), fully appreciating the significance of the announcement.

This network routinely invests large sums into major petroleum projects. With this sort of firepower in our corner, Wildcat will be in a good position to access deals normally reserved for oil companies much larger than us, such as Tullow oil & Harbour Energy.

Also, during the quarter Wildcat has, as previously noted, been busy scouting opportunities and building relationships in prospective target markets. In particular we have had productive talks with the oil minister of Sudan and executives from the Sudanese state oil company SUDAPET (see picture above).

As a result of the progress made in these talks, Wildcat has opened an office in Khartoum, which is being manned by Dr Omar.  Sudan has billions of barrels of oil (reserves/resources) which can be put into production and by working with the Government Wildcat has an opportunity to become a partner in the development of their oil industry.  This represents an opportunity to become a significant producing oil company. Dr Omar has been hard at work mapping out some of the organisational requirements to enable us to move fast after any potential deal is signed.

Also, during the quarter Wildcat has had extremely productive meetings with senior members of the South Sudan oil industry. Dr Omar held talks with the head of the State oil company (NILEPET) as well as with the Oil minister Dr Hon Puot Kang Chol. We will be looking to open a manned representative office in Juba in the not-too-distant future.

This week Cape Town is hosting the Africa Oil week conference. Once delegates have returned to their desks next week WCAT will continue with the process of sourcing a suitable African oil deal.

The company remains grateful to shareholders for their continued patience and would like to assure them that with our new "network" of friends backing Wildcat we are getting closer to executing a substantial deal in the not-too-distant future.

(*) The deal with Waterford was agreed when the share price was 0.7p. By the time the paperwork was done the price had increased to 1.4p.

 

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