Review of 2021

RNS Number : 4324X

Wildcat Petroleum PLC

05 January 2022

 

05 January 2022

Wildcat Petroleum Plc

("Wildcat" or the "Company")

CATFLAP

(review of 2021)

They say that "Fact is stranger than fiction", and this certainly applies to Wildcat Petroleum Plc's (WCAT) short life. As well as Covid, there have been depressed oil markets leading to negative oil prices and an environmentally driven backlash against all oil companies. It's perhaps not surprising it took the company 2 tumultuous years to raise the funds required to list!

Once we listed on the London Stock Exchange however the company's unexpected challenges didn't end. We faced more than the usual level of criticism from individuals who didn't understand the company's strategy or had declined to participate in the IPO and decided to take pot-shots at the company instead. Also, the ongoing Covid travel restrictions meant that the WCAT team couldn't travel abroad in order to assess and negotiate the acquisition of a suitable oil deal.

However, despite all this the WCAT share price ended the year at 1.9p giving the company a market capitalization of £43 million, well up from when the shares first listed in December 2020. In fact WCAT ended the year as one of the best performing share prices on any exchange anywhere in the world.

Even though 2021 has been an extraordinary year of progress for WCAT, there are issues that will be needed to be addressed in 2022.

SHARE PRICE VOLATILITY

The illiquidity of WCAT shares has sometimes caused the share price to behave in an erratic fashion. As the business matures and as the shareholder base expands we hope these wild swings in the share price will reduce.

COVID TRAVEL RESTRICTIONS.

It looks like Covid is going to be with us for the foreseeable future.

As a result, and because of opportunities arising in several different markets, WCAT has been actively recruiting experienced geological advisors who have track records of successfully securing oil assets in these markets, especially in Africa. These advisors bring extensive local capabilities in target countries.

In 2022 shareholders will be able to follow on Twitter the enhanced travel opportunities for Mr TC as he gradually becomes able to fly again around the world to evaluate oil assets and secure deals! We will of course also use Twitter to keep investors informed of progress with the business as well as political events that affect the company.  Wildcat-TC  @wcat_plc

BLOCKCHAIN TECHNOLOGY

As outlined in the IPO prospectus, WCAT intends to use Blockchain Technology in order to give it a competitive advantage over its peers.  However with the difficulty in securing an appropriate asset in the middle of a pandemic it was decided to put such activities on ice until after an oil asset is secured. At this point the Company will be able to lay out in explicit terms what Blockchain Tech the company intends to employ and how. 

2022 FORECAST

2021 was a year for WCAT to build a solid platform and to progress opportunities.

WCAT intends that 2022 will be a transformational year when we capitalise on the work done so far. We are excited about the opportunities ahead and we intend to come out swinging!

Enquiries:

Wildcat Glyn Roberts	[e-mail]
Guild Financial Advisory Ross Andrews	[e-mail]
Yellow Jersey (Investor Relations)  Tom Randell	[phone]  [e-mail]

Notes to Editors:

Wildcat Petroleum (LSE:WCAT) is listed on the standard segment of the official list, with shares traded on the main market of the London Stock Exchange. WCAT is seeking to acquire a business operating in the upstream sector of the petroleum industry - namely exploration, appraisal, development and production of oil and gas, with a primary focus on assets that are at the later phases of exploration and production.

https://www.wildcatpetroleum.co.uk/    

 

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