Wildcat Petroleum plc (LSE: WCAT), a company targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, is pleased to announce that it has appointed Simco Petroleum (Management) Ltd (“SIMCO”) as consultants.
The Company has commissioned SIMCO to produce a report on oil and gas licences it has previously studied, especially in Africa, which meet the Company’s investment criteria. This report is expected to be available in early 2022.
Additionally, SIMCOwill immediately assist WCAT in the evaluation of existing opportunities in South Sudan where it has recent experience in licence management. SIMCO has built up an extensive geological and commercial knowledge of the country, which will be of great advantage to WCAT. SIMCO’s technical team will work with the WCAT team in order to evaluate the various blocks on offer in the current South Sudanese licence round.
Mandhir Singh, Chairman of Wildcat, commented: “Following the recent appointment of Christopher Matchette-Downes as Geological Advisor, we are delighted to be working with SIMCO to advance our oil strategy. With their decades of experience in the African upstream oil sector, their extensive network across the continent and their practical experience in licence application and government negotiations, they will be able to make a significant contribution towards helping Wildcat secure an oil asset.”
Gabriel Simonian, Chairman of SIMCO commented: “We look forward to working with Mandhir and his team to advance their oil strategy. We have already seen a number of suitable opportunities to evaluate further and are confident that we can help Wildcat to secure a suitable transaction.”
Notes to Editors:
Wildcat Petroleum (LSE:WCAT) is listed on the standard segment of the official list, with shares traded on the main market of the London Stock Exchange. WCAT is seeking to acquire a business operating in the upstream sector of the petroleum industry – namely exploration, appraisal, development and production of oil and gas, with a primary focus on assets that are at the later phases of exploration and production.
About Simco Petroleum (Management) Ltd
SIMCO is a long established oil industry consultancy based in London. It has two decades of experience in identifying, applying for and securing hydrocarbon assets for clients. Its main area of expertise is in Africa but it has also been regularly involved in transactions on numerous assets worldwide, the North Sea in particular. SIMCO has also provided licence management services for its numerous clients. For over a twenty year period, SIMCO was mandated to provide support to Atlas-Oranto Petroleum, a privately owned exploration and production company which currently owns 22 oil blocks in 12 African countries.
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