19th Feb 2024 12:14
Wildcat Petroleum PLC - Uxbridge, London-based investor in petroleum industry's upstream sector - Says it has passed a due diligence process conducted by the South Sudanese Ministry of Petroleum. Explained that 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, it notes.
Chair Mandhir Singh says: "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."
Current stock price: 0.27 pence, up 13% in London on Monday
12-month change: down 80%
By Sophie Rose, Alliance News senior reporter
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