Wildcat to evaluate South Sudan assets with South African government

(Alliance News) - Wildcat Petroleum PLC on Thursday said it has agreed to collaborate with the ...

Alliance News 21 March, 2025 | 5:27PM
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(Alliance News) - Wildcat Petroleum PLC on Thursday said it has agreed to collaborate with the South African state-owned Strategic Fuel Fund Association.

The London-based investor in the petroleum industry's upstream sector said it will work with the South African government on evaluating petroleum assets in South Sudan previously held by Petronas.

Petronas withdrew its operations in South Sudan in August 2024, which government oil and gas company Nilepet then assumed responsibility for.

Wildcat's memorandum of understanding with Nilepet was valid for six months, and covered "productive discussions regarding various options for the acquisition of these assets".

Though the MoU with Nilepet expired on March 12, both parties have agreed to continue discussions, Wildcat Petroleum noted.

"Having secured this agreement with the South African government through its wholly owned entity SFF is excellent news for Wildcat in its endeavours to secure a deal in South Sudan," said Chair Mandhir Singh.

"A tie-up with the SFF can only enhance Wildcat opportunities as the SFF is one of only a handful of companies that has successfully signed a petroleum deal in South Sudan since the country gained independence in 2013. They have a well-established technical team in Juba which can assist Wildcat in any technical work it needs to conduct."

Wildcat Petroleum's agreement with SSF is due to expire on August 5, though both parties have the right to terminate with five days' notice.

Shares in Wildcat Petroleum were untraded at 0.094 pence on Friday in London. The stock has fallen 59% over the past year.

By Emily Parsons, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Wildcat Petroleum PLC Ordinary Shares 0.09 GBX -2.63 -

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