RCS - Wildcat Petroleum - Quarterly Update (CATFLAP)

Wildcat PetroleumAnnouncement

01/04/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220401:nRSA8284Ga&default-theme=true

RNS Number : 8284G  Wildcat Petroleum PLC  01 April 2022

01 April 2022

Wildcat Petroleum Plc

("Wildcat" or the "Company")

CATFLAP

Q1 2022

It has been a very interesting quarter to be in the oil business. We have seen
massive fluctuations in the price of both oil and gas. In March the price of
oil breached $130 per barrel, a 13 year high. The price seems to have now
settled into a trading range around a $100 per barrel.  If this scenario of
high oil prices persists then it bodes well for Wildcat once it has secured
its first oil producing asset.

Last year's Covid related travel restrictions severely restricted Wildcat's
ability to source a suitable hydrocarbon asset. The Company was unable to
physically follow-up leads, inspect assets and conduct face-to-face
negotiations. However, with the lifting of travel restrictions, the Company is
confident that it will be able to secure an appropriate asset.

The consultants that the Company has engaged have been able to provide a
steady stream of opportunities to evaluate. They have also been able to travel
to various countries on behalf of Wildcat in order to source and evaluate
opportunities. Once a suitable opportunity has been identified then I will
travel and aim to close the deal as quickly as possible.

In February, the Company announced the appointment of TBP-GEO in order to
source Wildcat Iranian oil production deals once sanctions against the country
are lifted. Since then there have been two significant developments. The spike
in oil prices has caused the international community to seriously consider
ways of getting Iranian crude oil back on the international market in order to
suppress oil prices. Also the release of Nazanin Zaghari-Ratcliffe bodes well
for the possibility that sanctions on Iran will be eased or dropped. If
sanctions are indeed eased, then Wildcat will update the market on
developments as it works to secure an Iranian oil production agreement in a
timely manner.

Last year was almost a virtual write-off due to Covid. However hopefully 2022
will result in WCAT securing a transformational deal or deals from one or more
of the opportunities we are investigating.  Our goal is with the first deal
is to instantaneously turn WCAT into a profitable, debt free, dividend paying
oil production company with a significant Blockchain component.

 As Mr TC says " The meek shall inherit the Earth, but Wildcat will get the
oil rights"

The time for talking is over, it's time for action.

Enquiries:

 Wildcat                               msingh@wildcatpetroleum.co.uk

 Mandhir Singh
 Guild Financial Advisory              ross.andrews@guildfin.co.uk

 Ross Andrews
 Yellow Jersey (Investor Relations)    +44 (0)20 3004 9512

 Tom Randell                           wildcat@yellowjerseypr.com

 

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

 

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRASDAFLFEESEDD