Last checked at 22 Apr 2021 07:00
22 April 2021
Wildcat Petroleum Plc
("Wildcat" or the "Company")
MoU signed with Nabirm Global, LLC
Wildcat Petroleum plc (LSE: WCAT), which is targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, and exploring the implementation of blockchain technology within the sector, is pleased to announce that it has signed a Memorandum of Understanding ("the MoU") with Nabirm Global, LLC ("Nabirm") an African oil & gas explorer with operations in Namibia for their potential participation in any future Initial Coin Offering ("ICO") that Wildcat may launch.
Nambirm is the holder of a Namibian Petroleum Exploration Licence 0058 held over block 2113A which potentially contains an estimated 8.7 billion barrels of prospective oil resources. Under the MoU, the two parties agree that there may be scope to tokenise these prospective oil resources.
Mandhir Singh, Chairman of Wildcat, commented: "This is the second MOU we have signed in a matter of days and there is still a pipeline of similar expressions of interest to work through. This MOU combined with the Crown MOU signed earlier this week gives WCAT the potential to tokenise over 11 billion barrels of oil.
"As the Company continues to seek an attractive oil and gas acquisition it is hopeful that it will add its own barrels of oil to this figure in due course."
Enquiries:
Wildcat Glyn Roberts | groberts@wildcatpetroleum.co.uk
|
Pello Capital Limited (Broker) Mark Treharne | +44 (0)20 3700 2500 MT@pellocapital.com |
Yellow Jersey (Investor Relations)
| +44 (0)20 3004 9512 wildcat@yellowjerseypr.com |
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. As part of the Company's commercial strategy, it is also exploring the implementation of blockchain technology within the oil and gas sector in order improve efficiencies when completing transactions across multiple markets.
https://www.wildcatpetroleum.co.uk/
About Nabirm Global, LLC
Nabirm is an oil & gas explorer focused on projects in politically stable and technically de-risked countries. The company's main focus in the immediate term is on exploration of the conjugate margin of the offshore Namibian continental shelf and its onshore basins. The company's long-term strategy is to build a pan African portfolio of high upside exploration licences combined with near term material drilling opportunities.
https://www.nabirm.com