Wildcat Petroleum has entered a collaboration agreement with SFF to explore petroleum opportunities in South Sudan, formerly under PETRONAS. This partnership aims to evaluate previous assets and enhance growth prospects in a challenging market, as noted by Wildcat’s Chair, Mandhir Singh.
Wildcat Petroleum (LSE:WCAT) has recently signed a collaboration agreement to explore potential oil opportunities in South Sudan, leading to a positive boost in its stock value. The company will partner with SFF, a wholly-owned entity of the South African government, concentrating on areas that were previously managed by PETRONAS. This strategic collaboration aims to evaluate the petroleum potential in these areas and consider scenarios for either acquiring all or portions of the assets.
This agreement follows PETRONAS’s announcement in August regarding its withdrawal from South Sudanese projects, generating an open opportunity for Wildcat Petroleum. Mandhir Singh, Chair of Wildcat, remarked on the significance of this new collaboration: “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.” He went on to highlight the rarity and potential advantages of partnering with SFF, stating that “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.”
In conclusion, Wildcat Petroleum’s recent partnership with SFF marks a significant step in exploring oil opportunities in South Sudan. This collaboration not only poses potential benefits following PETRONAS’s exit but also positions Wildcat favorably within a limited market of successful petroleum agreements. The insights shared by Mandhir Singh underline the strategic value of such partnerships in enhancing growth and securing valuable assets within the region.
Original Source: www.proactiveinvestors.co.uk
