Wildcat Petroleum has entered into a collaboration agreement with SFF to explore oil opportunities in South Sudan, specifically targeting acreage previously held by PETRONAS. The partnership follows PETRONAS’s withdrawal from the area and is anticipated to enhance Wildcat’s exploration efforts.
Wildcat Petroleum has announced a collaboration agreement to explore oil prospects in South Sudan, resulting in an increase in its shares. The company will partner with SFF, which is owned by the South African government, to evaluate acreage that was formerly held by PETRONAS. The objective is to assess the petroleum potential and explore acquisition possibilities for these assets after PETRONAS confirmed its withdrawal from the projects last August.
Mandhir Singh, Chair of Wildcat Petroleum, commented on the significance of this agreement, stating that the collaboration with the South African government through SFF represents a pivotal development for Wildcat’s operations in South Sudan. He noted that partnering with SFF could greatly enhance Wildcat’s opportunities in the region, considering that SFF is one of the few companies to have secured a petroleum deal in South Sudan since its independence in 2013.
In conclusion, Wildcat Petroleum’s collaboration with SFF signifies a crucial step for the company as it seeks to explore and potentially acquire oil assets in South Sudan. With the withdrawal of PETRONAS, Wildcat aims to capitalize on this opportunity, and the partnership with SFF is expected to bolster its prospects in the region.
Original Source: www.proactiveinvestors.co.uk
