Wildcat Petroleum Forges New South Sudan Venture

Wildcat Petroleum Plc (GB:WCAT) has released an update.

Wildcat Petroleum Plc has announced the signing of an MOU with South Sudan’s Ministry of Petroleum to form a Production Sharing Service Agreement, aiming to develop the nation’s hydrocarbon assets. The MOU, valid until the end of May 2024, comes after the company’s unsuccessful attempt to secure the Bamboo field in North Sudan, shifting their focus to South Sudan. Additionally, Dr. Omar is being compensated with 20 million company warrants for his role in facilitating the agreement.

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