Wildcat Petroleum plc (LON:WCAT) have today published its monthly newsletter to shareholders.
The political unrest in Sudan, which began in April 2023, derailed the Company for a couple of months but now the Company is back on track.
The Company has always been guided by the objectives to being:
· A producing oil Company
· Profitable
· Dividend paying
· Debt free
· Reserves/resources in the billions of barrels
These objectives still hold and hopefully will be achieved as the Company strives to establish Sudanese oil production in 2024.
1) SUDANESE OIL PRODUCTION.
In October 2022 the Company announced that it had signed a MOU over 4 producing oil Blocks in the Republic of Sudan (Blocks 1,3,4 & 5).
Wildcat Petroleum plc (LON:WCAT) was incorporated in early 2020, with plans to work and invest in the upstream sector of the petroleum industry – namely exploration, appraisal, development and production of oil and gas.