Wildcat Petroleum Partners with SFF for South Sudan Exploration

Wildcat Petroleum has entered a collaboration agreement with SFF for exploration in South Sudan, focusing on assets previously held by PETRONAS, which has withdrawn from the region. This partnership is seen as a positive opportunity for Wildcat to expand its endeavors in the petroleum sector.

Wildcat Petroleum (LSE:WCAT) has seen an increase in its share value following the announcement of a collaboration agreement focusing on exploration in South Sudan. The company intends to partner with SFF, an entity owned by the South African government, to assess acreage that was previously operated by PETRONAS.

The strategic collaboration aims to evaluate the petroleum potential in the region and explore scenarios regarding the acquisition of these assets. This agreement follows PETRONAS’s decision to withdraw from its projects in South Sudan, creating an opportunity for Wildcat Petroleum.

Mandhir Singh, the chairman of Wildcat, expressed optimism about the collaboration, stating, “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 further noted that a partnership with SFF is advantageous since it is among the few companies that have successfully signed a petroleum deal in South Sudan since the nation’s independence in 2013.

In summary, Wildcat Petroleum’s collaboration with SFF marks a significant opportunity for exploration in South Sudan, especially following the exit of PETRONAS. The partnership is expected to enhance Wildcat’s potential in the region, benefiting from SFF’s experience in the local sector. The move signals optimism for the future of petroleum exploration in the country.

Original Source: www.proactiveinvestors.co.uk