31 October
2024
Wildcat
Petroleum Plc
("Wildcat", "WCAT" or the "Company")
Annual
Financial Results
Wildcat Petroleum Plc ("WCAT" or
"the Company") a company targeting investment opportunities in
businesses and assets within the upstream sector of the petroleum
industry is pleased to announce the publication of its audited
Annual Report and Accounts for the year ended 30 June 2024
("FY24").
Financial Highlights:
·
Current assets of £290,547 as at 30 June 2024
(FY23: £153,503);
·
Cash balance of £286,573 as at 30 June 2024 (FY23:
£135,765);
·
Net assets of £253,196 30 June 2024 (FY23:
£107,975); and
·
Loss before taxation for the year ended 30 June
2024 of £255,288 (FY23: Loss of £261,997).
Operational Highlights:
·
In February 2024, the Company announced that it
had passed a due diligence process conducted by the South Sudanese
Ministry of Petroleum ("MOP"). The clearance from the MOP being
required before Wildcat could undertake any petroleum deal in the
country including the purchase of large-scale oil
production;
·
In May 2024, the Company signed a Memorandum of
Understanding ("MOU") with the South Sudanese Ministry of Petroleum
("MOP") in regard to a possible service contract (Production
Sharing Service Agreement) over proven oil assets; and
·
In September 2024, the Company signed an MOU with
the South Sudanese national oil company Nilepet, to collaborate
together for acquiring the assets held by the PETRONAS group.
Wildcat continues to work with the MOP and Nilepet, positioning
Wildcat with a great opportunity to acquire oil producing assets in
the region.
Post Year End
·
Fund raise of £156,000 before expenses (£145,000
net of expenses) via a placing of new shares announced 25 October
2024.
In compliance with UK Listing Rule
13.3.9, a copy of the Annual Financial Report has been submitted to
the FCA and will shortly be available for inspection from the
National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. It will
also be loaded onto Wildcat's website: www.wildcatpetroleum.co.uk
Enquiries:
|
Wildcat
Mandhir Singh
|
msingh@wildcatpetroleum.co.uk
|
|
Guild Financial Advisory
Ross Andrews
|
ross.andrews@guildfin.co.uk
|
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 projects or 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.
https://www.wildcatpetroleum.co.uk/