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Wow your agression does you no credit at all!
Putting any part of a house deposit on a shell with a cap of £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.'
——————
This is very positive news.
You said “your house deposit”, 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 wouldn’t have directed such a stupid comment at me.
Maybe worry about your own investments instead of worrying about others. I’m 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, doesn’t mean I’ve 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, doesn’t mean I’ve 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 £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 can’t 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
This just clarifies that the savannah thing had no effect on our Sudan Bamboo target.
Now we are looking to work in South Sudan as well.
This could be to try and get what Savannah didn't manage to do
It’s not, the Chairman already clarified that. Here’s the tweet in case you missed it:
https://x.com/wcat_plc/status/1753036085444169890?s=46&t=dBEUr060C2V_rrjFRsmkxA
“Shareholder inquiry. Failure of Savannah Energy to close oil deal in South Sudan has no bearing on #wcat deal in Sudan (north). Bamboo field work program submitted. Awaiting reply from oil minister.”
I can only think of Savanna Energy who are in South Sudan and have been get a deal done, I wonder if its anything to do with that!
Anywhere that the company can start making revenue is attractive atm.
This news seems good and opens more options.
Also got a newsletter to come later today.
Just need a bit more attention from the market now to see a solid bag or two
Will be a few pence once finalised ceo still owns over 60% step in the right direction
Trap set by mms just look at offer
They seem to be covering themselves in the event that the Sudan deal fails to materialise. From the 5th January newsletter:
"Although the Company is fully committed to establishing profitable Sudanese oil production in 2024, it will however pursue any attractive opportunities that present themselves in neighbouring countries such as Chad, South Sudan, Niger, Ethiopia, Eritrea and Libya."
The problem is that alternative deals in other jurisdictions might not necessarily be as attractive.