# Wildcat Petroleum signs MOU with the Ministry of Petroleum

- Link: https://www.directorstalkinterviews.com/wildcat-petroleum-signs-mou-with-the-ministry-of-petroleum/4121155145
- Published: 2024-05-07T07:23:20+01:00
- Author: Amilia Stone

**[Wildcat Petroleum](https://www.directorstalkinterviews.com/company/wildcat-petroleum-plc/wcat.l)
plc **(LON:WCAT) has announced that, after a recent very successful trip to South
Sudan, it has signed an MOU with the Ministry of Petroleum (MOP) covering the following:

To establish a collaboration agreement to form a Production Sharing Service Agreement(
PSSA) between the MOP and WCAT to work together to advance the development and commercial
exploitation of the hydrocarbon assets in selected fields in the Republic of South
Sudan. A working party made up of members of both Wildcat Petroleum and MOP will
be established to select suitable fields for development and agree suitable terms
and conditions. (*).

The MOU is valid to 31/5/2028 and recognises the current status of existing Exploration
and Production contracts in South Sudan including pre-emption rights. It can be 
terminated on 30 days’ notice by either party.

**WARRANTS**

Dr Omar has been of great assistance to the Company in helping to secure this deal
in South Sudan. His extensive expertise and knowledge have been a great assistance
to the Company. As a result the Company has decided to compensate him with the awarding
of 20 million warrants with a strike price of 0.20p and an expiry date of 31^(st)
Dec 2024.

> **Wildcat Petroleum** **Chairman, Mandhir Singh **“It was very disappointing that
> the Company was unable to secure the Bamboo field in Sudan (North), however the
> Company hopes to make up for this disappointment by concentrating on South Sudan.”

(*) The market will be informed when the working party has been set-up.

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