Wildcat Petroleum Plc (LSE: WCAT), a company targeting investment opportunities in business and assets within the upstream sector of the petroleum industry, is pleased to announce the appointment of PETRO-TEC (PT) as petroleum consultants.
PT is an international petroleum consultancy specialising in development, planning and reservoir management. They are experts in the field of Enhanced Oil Recovery (EOR), with extensive experience in the identification, screening and selection of brown field petroleum sites in which EOR techniques can be applied. PT will be able to devise, implement, run and evaluate appropriate field development projects alongside WCAT. Although it has experience working on projects all over the world, PT has particular expertise working in Africa, especially in Sudan, South Sudan and Chad. For example, PT was employed in 2021 by the Ministry of Petroleum of the Republic of South Sudan, preparing geological reports and promoting, to international oil companies, the 14 oil blocks in its inaugural licence round.
Mandhir Singh, Chairman of Wildcat, commented: “We are delighted to welcome Petro-Tec aboard. One of our main goals has always been to start oil production, especially given recently rising oil prices. We are hopeful that Petro-Tec can help WCAT firstly identify and secure producing oil assets which are suitable for EOR and secondly that we can utilize PT’s EOR expertise to start profitable oil production.”
Dr Omar Abu-Elbashar, CEO of Petro-Tech, commented: “We are very happy to be working in partnership with Wildcat, an up and coming and ambitious oil company. We are confident our insights, technical capabilities and our extensive network can help WCAT achieve its strategic objective of securing an oil asset which is revenue generating, either immediately upon acquisition or within a short timeframe.
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.
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