London-listed Wildcat Petroleum said it has passed a key milestone on route to its goal of acquiring an oil asset in South Sudan.
Led by chairman Mandir Singh, the company aims to build up an African upstream portfolio, targeting opportunities in Sudan, Chad, Niger, Ethiopia, Eritrea and Libya.
In a statement released on the London Stock Exchange this morning, Wildcat said it has successfully come through a due diligence process conducted by Juba’s Ministry of Petroleum that assessed the company’s “technical competency” and its “financial capability to complete a multi-million/billion dollar oil production purchase”.
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.