Wildcat Petroleum announces that it has appointed Striped Horse Resources Ltd (SHR) as consultants.
The SHR team has many years of practical experience of working within the Angolan oil sector. They have long term & ongoing relationships with senior management in both ANPG & SONANGOL as well as with several independent, indigenous Angolan oil companies. SHR is tasked with sourcing opportunities with assets in Angola (mainly onshore), which meet WCAT’s investment criteria, for the WCAT team to evaluate. WCAT has already successfully completed a thorough due diligence process with the Angolan regulator ANPG as well with the national oil company SONANGOL which is a prerequisite to working with those organisations.
As a secondary task SHR will also consider projects which meet WCAT investment criteria in Namibia.
Mandhir Singh, Chairman of Wildcat, commented: “Angola has always been a top target for WCAT. The new Angolan government is committed to the eventual privatization of SONANGOL. As a result, SONANGOL has been divesting what it considers as non-core assets in preparation for a future IPO. WCAT believes that this divestment will provide a once in a generation opportunity to acquire a significant producing oil asset at a reasonable price. Over the last year WCAT has been working hard to raise its profile within the Angolan oil sector, both within the government and private sector. Unfortunately, WCAT has not been able to travel to Angola due to the global pandemic. SHR will aid WCAT in having a local presence in the capital Luanda. SHR will use its stakeholder network to facilitate meetings with interested parties as and when international travel restrictions ease between Europe and Angola. With the assistance of SHR, WCAT will be able to take a much more aggressive stance in the new year to sourcing an appropriate producing asset in Angola.”