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š¤ itās the next update we receive.
Snippet from 19th Feb RNS:
ā A note on the situation in The Republic of Sudan (Bamboo field)
As previously disclosed, the Republic of Sudan's oil ministry has offered the Bamboo Field to Wildcat for development under a service agreement which would later convert to a Production Service Agreement. Wildcat has submitted a work program and is awaiting approval from the minister. Disruption to the Sudanese telecom infrastructure has hindered the completion of the dealā
Telecoms were restored last week I believe, so hopefully things are back on track and deal completion isnāt too far away.
GLA
Dearest Mandini, i think the market has spoken - ramping RNS's and special edition Catflaps are not having the desired effect, this strategy has now been exhausted. Only a service agreement shall truly move the SP now. Good luck and hope you get the deal across the line.
Lol wow you really are a softy if you think that was aggression š maybe donāt attack / criticise other posters and their investments if you can handle the responses back.
No, Iām lambasting you because youāre completely taking what Iāve said wrong. At no point have I mentioned house deposit. If that was someone else, I have the same view as you. Even with a normal share, investing a house deposit would be a huge risk.
Also, if youāve invested for what they have today and canāt see any potential, you might as well sell up. āNot sure what research can be done hereāā¦.You canāt be serious. Are you even invested? Low on funds? Prove it.
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 Macalvins Ltd ("Macalvins"), as auditor to the Company. The appointment of Macalvins will be subject to approval by shareholders at the next Annual General Meeting of the Company.
Macalvins are Chartered Accountants and Registered Auditors who are part of the Macalvins Group of Companies, with offices in London, India and South Africa employing over 350 principals and staff. They help a variety of individual and corporate clients and are a member of Prime Global (The Association of Advisory and Accounting Firms).
The appointment of Macalvins follows the resignation of previous auditor, Shipleys LLP who advised the Company in December last year that it had decided to withdraw from providing audit services to a Public Interest Entity ("PIE"). Wildcat is classified as a PIE due to its Standard Listing on the London Stock Exchange's Main Market.
Shipleys LLP confirmed then that there were no circumstances connected with their ceasing to hold office which they consider should be brought to the attention of the members or creditors of the company in accordance with Section 519 of the Companies Act 2006.
Heās right though-from Kazakhstan to Sudan, yet SFA has actually happened
Another troll - probably one of bitter truths mates heā asked to come and be equally pessimistic- best to ignore trolls
Only a concrete agreement like the Service Agreement (SA) with the Sudanese Govt will move the share price significantly. Any other news may produce small upwards spike but the share price will remain at current level.
No news will take us back to all time lows.
We've had talks and Memorandum of Understandings since the company's inception but no concrete contracts.
Lets hope they actually get some concrete results this year!
Wow your agression does you no credit at all!
Putting any part of a house deposit on a shell with a cap of Ā£7 m in a country undergoing a civil war is clearly off the risk scale, and anyone investment savvy would tell you that!!!
And then you lambast someone for stating the blooming obvious!!!
I'm not sure what research can be done here, the company is low on funds, and has no assets today, or have I got that wrong?
If I have I'm open to correction.......
Https://oilreviewafrica.com/exploration/wildcat-petroleum-passes-south-sudanese-ministry-of-petroleum-approval-process
The process included the evaluation of the company's technical competency as well as its financial capability to complete a major oil production purchase. This clearance is required from the MOP before Wildcat can undertake any petroleum deal in the country including the purchase of large scale oil production.
A number of investors, including The Waterford Group, have provided financial backing for the potential purchase of any production in South Sudan.
Mandhir Singh, chairman of Wildcat said, 'The Wildcat team has been involved in the South Sudan oil industry since oil was first discovered there. We are happy to have passed the arduous due diligence process and received a top level ranking. Wildcat has been invited by the MOP to visit them in Juba and conduct talks regarding current oil production opportunities in the country.'
āāāāāā
This is very positive news.
You said āyour house depositā, which could suggest all. Maybe you need to think about how you word things in future. Either way, if you read my comment correctly in the first place, you wouldnāt have directed such a stupid comment at me.
Maybe worry about your own investments instead of worrying about others. Iām perfectly capable of doing my research and making my own investment decisions.
Thanks for your concern though.
"Where did I say I put my house deposit in this? Just because I want to withdraw some cash, doesnāt mean Iāve invested all my house funds."
And where did I say you had invested ALL your house funds?
Readings hard, as they say.
The main oil production in both countries comes from the Muglad Basin (e.g the Heglig field in the North and the Unity field in the South) and the Melut Basin (the largest field being the Great Palogue Field in South Sudan). The Oil and Gas Journal (OGJ) in their 2023 summary of oil and gas reserves, estimates for the two countries combined, proven reserves of 5 billion barrels and a combined production of 220,000 barrels a day. Both Basins are connected by oil pipelines to Port Sudan on the Red Sea.
Do you know what date they have to update the market ?
Yep, and they completely misread my comment.
Readings hard.
Another busy body got nothing better to do than worry about other peoples investments!
Where did I say I put my house deposit in this? Just because I want to withdraw some cash, doesnāt mean Iāve invested all my house funds.
"Because I may need to withdraw funds (reduce my holding) at some point soon to put towards a house move."
I hope you're not serious?
I have a reasonable tolerance to risk, but to put your house deposit into a cash shell with a Ā£7 million valuation based in a high risk country in a war zone, with no actual assets (yet) is off the scale in my opinion.
I wish you luck, you may need it.
Another newsletter written by David Brent and a superb deflection RNS which appears to keep the wagon rolling .
Just my view of course
Looks like catflap is out - there is definitely something going on here : I just canāt quite figure out what :- lots of oil and lots of production - be interesting to find out how wcat fit in exactly
It appears as though WCAT are positioning themselves to takeover from Savannah in South Sudan! I guess we should know shortly!
Good buys progressively coming in over the months - slow and steady
The MOP is with South Sudan.
This is new and offers opportunities in another country.
We know we already have potential in Sudan and hopefully the SA there is signed soon, but now we have other options as well.
More details and information would be nice as to what the plan is in South Sudan though
I think the issue is that we badly need a SA. MOP is good news but it's just confirming what we know already and not that exciting whereby volume jumps. I am wondering what this newsletter is, re-confirming 24 strategy? Hopefully something new. It feels like MS is an expert at saying the same thing in different ways but I totally get that circumstances have made this venture tricky and he has done well to navigate the situation. Either way, this may be the news that settles the price above 0.30 for the foreseeable future and this news is better than no news. I see it as a great opportunity to load up and will be looking to do so before that SA hits because that is now the next logical news that comes through.
When/if the SA is over the line, the whole narrative will change, we will then anticipate a PA and the fruit of a revenue stream will be in sight with the potential of dividends. Well done to MS for steering the ship in horrid winds.
I would also ignore any talk of Savana Energy as a few posted below, a few obsessive posters in the telegram regarding this, thankfully I am out of that group now.
Currently second on the risers board.
Would be great to see a consistent rise with the newsletter.
This has great potential now if it gets enough attention.
Yes, that could be the case