REG - Wildcat Petroleum - Clarification

Wildcat PetroleumAnnouncement

22/11/2023 18:15

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RNS Number : 3851U  Wildcat Petroleum PLC  22 November 2023

Wildcat Petroleum Plc

("Wildcat" or the "Company")

Clarifying Statement

Wildcat Petroleum Plc ("WCAT"), a company targeting investment opportunities
in businesses and assets within the upstream sector of the petroleum industry
issues a clarifying statement.

On 6 November 2023, Mandhir Singh, Chairman and CEO of the Company, gave an
interview with Directors Talk which has subsequently been reproduced on social
media. Mr Singh regrets some of his comments and now accepts that they may
have be misconstrued and wishes to clarify the following statements:

Crypto and Blockchain - For clarity the FCA has not been advising the Company
as to what he can say about its crypto/blockchain plans.  The current
position is that no blockchain activities and token offerings will take place
before the Company has implemented its investment strategy to acquire an
upstream oil and gas asset and it has published a prospectus in line with its
Listing Rule obligations. The Company emphasis that the launch of tokens will
depend on the regulatory environments at the time, as well as obtaining
approval from appropriate regulatory authorities.

Prospects - The Company refers to its RNS announcement made on 25 October 2023
relating to its Report and Accounts. Within this announcement the Company
referenced a number of points including the Company's future prospects. The
Company confirms it has received an indication from the OEPA (Republic of
Sudan) that they would be prepared to sign a Service Agreement with the
Company with a view to increasing oil production on the Bamboo oil field. Once
the political situation has settled down the Company is hopeful of converting
this Service Agreement into a Production Sharing Agreement. For clarity a
Service Agreement has not yet been signed and there is no guarantee that an
agreement will be signed.

There has been no material change to trading since the publication of the
Report and Accounts on 25 October 2023.

A further announcement will be made in due course in line with the Company's
regulatory obligations.

Enquires:

 Wildcat:  Mandhir Singh msingh@wildcatpetroleum.co.uk
 (mailto:msingh@wildcatpetroleum.co.uk)
 Guild Financial Advisory: Ross Andrews ross.andrews@guildfin.co.uk
 (mailto:ross.andrews@guildfin.co.uk)

 

 

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