Wildcat Petroleum plc (LON:WCAT) Chairman Mandhir Singh joins DirectorsTalk Interviews to discuss its newsletter for shareholders for July to October 2023.
Mandhir shares his thoughts on why despite heavy and persistent buying of WCAT shares the share price hasn’t moved, what he meant in the newsletter by the ‘Company is back on track’, a successful fundraise in difficult market conditions, his plans for the crypto space and a few final words for shareholders.
DirectorsTalk Interviews produced this interview in good faith, Mr Singh since regrets some of his comments and now accepts that they may have been misconstrued and has issued the following clarifying statements by RNS on 22 November 2023:
Crypto and Blockchain – For clarity the FCA has not been advising the Company as to what he can say about its crypto/blockchain plans. The current position is that no blockchain activities and token offerings will take place before the Company has implemented its investment strategy to acquire an upstream oil and gas asset and it has published a prospectus in line with its Listing Rule obligations. The Company emphasis that the launch of tokens will depend on the regulatory environments at the time, as well as obtaining approval from appropriate regulatory authorities.
Prospects – The Company refers to its RNS announcement made on 25 October 2023 relating to its Report and Accounts. Within this announcement the Company referenced a number of points including the Company’s future prospects. The Company confirms it has received an indication from the OEPA (Republic of Sudan) that they would be prepared to sign a Service Agreement with the Company with a view to increasing oil production on the Bamboo oil field. Once the political situation has settled down the Company is hopeful of converting this Service Agreement into a Production Sharing Agreement. For clarity a Service Agreement has not yet been signed and there is no guarantee that an agreement will be signed.
Wildcat Petroleum plc was incorporated in early 2020, with plans to work and invest in the upstream sector of the petroleum industry.
