07:00 Wed 30 Jun 2021
Wildcat Petroleum - Oil strategy update
Wildcat Petroleum Plc
("Wildcat" or the "Company")
Oil strategy update
Wildcat Petroleum plc (LSE: WCAT), which is targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, today provides an update on its strategic developments.
The Company has been examining potential opportunities being presented across several sub-Saharan African countries, where governments are committed to economic development and open inward investment. After careful consideration, Wildcat has decided to initially focus on securing and developing a proven upstream asset in
In line with this new strategic focus, the Company has undergone and passed the vetting process of the Angolan regulator, ANPG (Agência Nacional de Petróleo, Gás e Biocombustíveis) meaning that it can participate in future licensing rounds. Although the current licencing round is well underway, Wildcat is putting in place the necessary infrastructure, including the establishment of a new office in
The Company is also seeking to secure a co-operation agreement with one or more local oil producers in
"Having now passed the vetting process of the ANPG we are excited to get underway with the hope of securing our first asset, and I look forward to updating the market on our progress in due course."
Enquiries:
Wildcat |
groberts@wildcatpetroleum.co.uk
|
Pello Capital Limited (Broker) |
+44 (0)20 3700 2500 |
|
+44 (0)20 3004 9512 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. As part of the Company's commercial strategy.
https://www.wildcatpetroleum.co.uk/
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