19 February 2024
Wildcat Petroleum Plc
("Wildcat" or the
"Company")
Wildcat Petroleum
Newsletter
In the January Newsletter, Wildcat stated the
following:
"Although the Company is fully committed to
establishing profitable Sudanese oil production in 2024, it will
however pursue any attractive opportunities that present themselves
in neighbouring countries such as Chad, South Sudan, Niger,
Ethiopia, Eritrea and Libya"
A suitable opportunity has presented itself in
South Sudan. The Market was informed of this development in an RNS
release this morning (RNS 5242D). This newsletter gives some
background re the Republic of Sudan and the Republic of South
Sudan.
SUDAN/SOUTH SUDAN OIL
INDUSTRY
The 2012 secession of South Sudan from Sudan
(North) resulted in the division of the oil industry. Sudan (north)
retained 25% of the oil production as well of the bulk of the
infrastructure, whilst South Sudan received 75% of the oil
production.
Thus, with oil producing assets extending across
their shared border, from a practical standpoint one can look at
their oil producing potential in the whole. Resultantly Wildcats
plans in Sudan (north) are complemented by its proposed plans in
the South.
The main oil production in both countries comes
from the Muglad Basin (e.g the Heglig field in the North and the
Unity field in the South) and the Melut Basin (the largest field
being the Great Palogue Field in South Sudan). The Oil and Gas
Journal (OGJ) in their 2023 summary of oil and gas reserves,
estimates for the two countries combined, proven reserves of 5
billion barrels and a combined production of 220,000 barrels a day.
Both Basins are connected by oil pipelines to Port Sudan on the Red
Sea.
WILDCAT IN SOUTH
SUDAN.
Members of the Wildcat team have had practical
experience in the past of working in the oil fields located in
South Sudan.
In 2021 South Sudan launched an oil licensing
round (offering 5 out of 14 open blocks - see figure below) in
which Wildcat planned to participate in. Unfortunatley the
government cancelled the licensing round.
Wildcat
meeting (2022) with South Sudanese Minister of Petroleum, Hon.
Mr Puot Kang Chol
In September 2023 the Director General in Sudan
(north) liaised with his counterpart in the South Sudanese Minister
of Petroleum to facilitate cross border access for Wildcat from the
South to the oil fields located in the North around the town of
Heglig. Also, on the advice of Director General Wildcat arranged
for the temporary use of offices (when needed) in the UAP
Equatorial Tower in South Sudan's capital Juba.
On the Chairman's next visit to Juba he will be
looking for a permanent home for the Company.
Wildcat Petroleum
plc
19 February
2024
