Wildcat signs production sharing agreement with South Sudan government

Wildcat Petroleum 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 WCAT and MOP will be established to select suitable fields for development and agree suitable terms and conditions. 

The MOU is valid to 31 May 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.

Chairman Mandhir Singh said, "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."