Wildcat Petroleum has entered into a collaboration agreement with SFF for exploration in South Sudan, focusing on acreage previously held by PETRONAS. The partnership aims to evaluate oil potential and possibly acquire assets following PETRONAS’s withdrawal from projects in the region. Chair Mandhir Singh highlighted the significance of this agreement for enhancing Wildcat’s opportunities in South Sudan.
Wildcat Petroleum (LSE:WCAT) has announced a collaboration agreement to explore potential oil opportunities in South Sudan. This partnership is established with the State of South Africa’s wholly owned subsidiary, SFF, and focuses on evaluating petroleum potential in acreage previously managed by PETRONAS. The initiative follows PETRONAS’s decision to withdraw from these projects in August. Mandhir Singh, Chair of Wildcat, expressed optimism about this collaboration, asserting it “is excellent news” for the company’s prospects in the region. Furthermore, he indicated that aligning with SFF, which has had previous success in signing deals in South Sudan since its independence in 2013, will greatly enhance Wildcat’s opportunities.
In conclusion, Wildcat Petroleum’s recent collaboration agreement with SFF for exploration in South Sudan signifies a strategic move following PETRONAS’s withdrawal from existing projects. This partnership aims to assess and possibly acquire valuable petroleum assets, positioning Wildcat to capitalize on opportunities in a region with emerging oil potential. The endorsement from Wildcat’s Chair reinforces the company’s positive outlook.
Original Source: www.proactiveinvestors.co.uk
