(Alliance News) - Wildcat Petroleum PLC on Friday said it has been invited to discuss opportunities in South Sudan, having passed government due diligence checks.
The Uxbridge, London-based investor in the petroleum industry's upstream sector previously announced that in the last quarter the company passed a due diligence process conducted by the South Sudanese Ministry of Petroleum.
Wildcat has subsequently been invited to visit relevant authorities in Juba to discuss prospects in the country, with an initial meeting expected to take place in mid-April once Ramadan is over.
This news follows a period of uncertainty surrounding ongoing political turmoil in the region which has frustrated the process.
Furthermore, the company said it is still awaiting approval for the work programme submitted to government of Sudan relating to the Bamboo oil field.
In September Wildcat announced plans to sign a service agreement, with a view to increasing Bamboo's oil production. The last official update from the government was in February, informing the company that the relevant paperwork was with their lawyers.
Wildcat shares were flat at 0.22 pence each in London on Friday morning.
By Elijah Dale, Alliance News reporter
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Wildcat Petrol. (WCAT)