Wildcat Petroleum\u00a0has announced that it has, via a Letter of Intent and subject to due diligence and final agreement, signalled its intent to purchase for a nominal fee,\u00a0drilling equipment, supplies and drill pipe from New Age (African Global Energy).<\/p>\n\n\n\n
The deal will cover the purchase of eighty (80), 20 foot shipping containers which hold drilling equipment, accessories and chemicals. Also included in the deal is a significant amount of drill pipe (various gauges of conductor and casing pipe).<\/p>\n\n\n\n
New Age (African Global Energy) is currently decommissioning its Ethiopian drill site (El Kuran, Ogaden basin). Once all the necessary paperwork, due diligence and final agreement have been concluded, the equipment and supplies will be trucked to Wildcat’s compound in the Republic of Sudan.<\/p>\n\n\n\n
It is the company’s intention to use as much of this inventory as possible in its own\u00a0drilling and well rehabilitation programs once the first oil deal has been signed with the Sudanese government. Any equipment or supplies not required (including shipping containers) will be sold, and the funds reinvested into future oil production operations in Sudan.<\/p>\n\n\n\n