Wildcat Petroleum Partners with SFF for South Sudan Oil Exploration

Wildcat Petroleum has entered into a collaboration agreement with SFF to explore oil opportunities in South Sudan, following PETRONAS’s withdrawal. The partnership aims to assess the petroleum potential of previously held assets and explore acquisition scenarios. Chairman Mandhir Singh highlighted the positive implications of this agreement for Wildcat’s objectives in the region.

Wildcat Petroleum, listed on the London Stock Exchange as WCAT, has recently announced an upward movement in its shares following the signing of a collaboration agreement to explore oil opportunities in South Sudan. This partnership with the South African company SFF aims to delve into areas previously managed by PETRONAS, with a focus on assessing both petroleum potential and acquisition strategies for the relevant assets.

This venture comes in light of PETRONAS’s decision to withdraw from its projects in South Sudan earlier in August. Mandhir Singh, the Chairman of Wildcat, emphasized the significance of this agreement, stating it represents a positive development for the company. He remarked, “Having secured this Agreement with the South African government through its wholly owned entity SFF is excellent news for Wildcat in its endeavours to secure a deal in South Sudan.”

Singh further acknowledged the potential benefits of collaborating with SFF, mentioning that they are among the few entities that have successfully negotiated petroleum agreements in South Sudan since the nation attained independence in 2013, thus positioning Wildcat for enhanced opportunities in the region.

In conclusion, Wildcat Petroleum’s collaboration with SFF marks a pivotal step in exploring the oil potential of South Sudan, particularly following PETRONAS’s exit from the market. This strategic partnership is expected to provide Wildcat with unique opportunities, being linked with a company experienced in navigating the South Sudanese petroleum landscape. Moving forward, the focus will remain on evaluating the assets and assessing acquisition options to maximize the exploration efforts.

Original Source: www.proactiveinvestors.co.uk