Wildcat Petroleum reopens Khartoum office in July 2023 newsletter

Wildcat Petroleum Plc (LON:WCAT) has announced in its April to June 2023 newsletter Cat Flap that the company’s representative office in Khartoum has reopened for business.

Mandhir Singh, Chairman of Wildcat Petroleum, comments:

“With all the doom and gloom around I would like to start of this edition of the Cat Flap with some good news for shareholders. Our representative office in Khartoum has reopened for business!

On the 15th April there was a coup attempt in Sudan.  This event temporarily delayed the company’s plans to sign a deal with the Sudanese Oil Ministry. The coup attempt has failed and is fizzling out. As far as the Company understand, the oil fields located in the south of the country have not been damaged. Once the current EID celebrations are over the Company intends to reengage in  face-to-face talks with the oil ministry and get the oil deal back on track.

Last quarter after nearly a year’s negotiation the company managed to secure US$25m of provisional backing from some major investors. This amount of funds should be sufficient for the Company to drill 4-5 new production wells.  The full significance of this news will become apparent once the company has signed its first oil deal.

The first half of the year was a clear win for the Bears (pessimists) impacting the share price negatively. The Company is working hard to make sure the second half of the year is one for the Bulls (optimists).”

Wildcat Petroleum

Dr Omar enjoying the sunshine in Khartoum

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Wildcat Petroleum plc

More articles like this

Wildcat Petroleum plc

Oil prices rise as Israel-Hamas ceasefire talks stall

Oil prices edged higher on Tuesday after Israel struck Rafah in Gaza, while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures were up 23 cents, or 0.28%, at $83.56 per barrel at

Wildcat Petroleum plc

Wildcat Petroleum signs MOU with the Ministry of Petroleum

Wildcat Petroleum plc (LON:WCAT) has announced that, after a recent very successful trip to South Sudan, it has signed an MOU with the Ministry of Petroleum (MOP) covering the following: To establish a collaboration agreement to form a

Wildcat Petroleum plc

Oil Prices gain as Europe’s economic data strengthens

Oil prices gained on Tuesday after stronger economic data out of Europe, as investors also weighed the potential fallout from any fresh U.S. sanctions on Iran’s oil exports with tensions remaining high in the Middle East.

Wildcat Petroleum plc

Oil prices rise as hopes for Gaza ceasefire fade

Oil prices edged higher on Tuesday, after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza, and on Mexico’s plan to remove more crude from the global market. Brent crude

DirectorsTalk

Investors buy oil at record pace amid supply optimism

Investors have purchased oil at the fastest rate for more than four years, amid optimism that Saudi Arabia and its OPEC+ allies will continue to restrict production while an improving economic outlook boosts consumption. Ukraine’s drone

Wildcat Petroleum plc

Oil prices rise in Asian trade on supply concerns

Oil prices ticked up in Asian trade on Monday, extending gains from last week of nearly 4% on the view that supply was tightening, with the risks heightened by further attacks on Russian energy infrastructure. Brent

Wildcat Petroleum plc

Geopolitical tensions drive oil prices higher

Oil prices rose in Tuesday trade as geopolitical tensions in the Middle East continued to spur concern, but gains were limited on bearish demand sentiment and as the market waited for monthly reports from oil agencies.

Wildcat Petroleum plc

Oil prices rise on growing US and China demand

Oil prices rose on Friday, driven by growing demand in the world’s biggest consumers, the United States and China, while the U.S. Federal Reserve gave a positive signal on the possibility of rate cuts. Brent crude

Wildcat Petroleum plc

Oil prices rise as OPEC+ extends output cuts into Q2

Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Brent futures was 28 cents,