REG - Wildcat Petroleum - Wildcat receives approval from the South Sudan MOP

Wildcat PetroleumAnnouncement

19/02/2024 07:00

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RNS Number : 5242D  Wildcat Petroleum PLC  19 February 2024

19 February 2024

Wildcat Petroleum Plc

("Wildcat", "WCAT" or the "Company")

Wildcat receives TOP LEVEL approval from the South Sudanese Ministry of
Petroleum ("MOP")

Wildcat is pleased to announce that it has passed a due diligence process
conducted by the South Sudanese Ministry of Petroleum (MOP). This process
included the evaluation of the Company's technical competency as well as its
financial capability to complete a major multi-million/billion dollar oil
production purchase. This clearance is required from the MOP before Wildcat
can undertake any petroleum deal in the country including the purchase of
large scale oil production.

Financial backing for the potential purchase of any production in South Sudan
is been provided by a number of industry investors, including The Waterford
Group.

Mandhir Singh (Chairman) said:

"The Wildcat team has been involved in the South Sudan oil industry since oil
was first discovered there. We are happy to have passed the arduous due
diligence process and received a top level ranking.  Wildcat has been invited
by the MOP to visit them in Juba and conduct talks regarding current oil
production opportunities in the country.

A note on the situation in The Republic of Sudan (Bamboo field)

As previously disclosed, the Republic of Sudan's oil ministry has offered the
Bamboo Field to Wildcat for development under a service agreement which would
later convert to a Production Service Agreement. Wildcat has submitted a work
program and is awaiting approval from the minister. Disruption to the Sudanese
telecom infrastructure has hindered the completion of the deal.

 

 Enquiries:
 Wildcat                   msingh@wildcatpetroleum.co.uk

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

 Ross Andrews

 

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