News listings

energy-pedia general news

Wildcat Petroleum signs letter of intent re drilling equipment

16 Mar 2023

Photo - see caption

Wildcat Petroleum has 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, drilling equipment, supplies and drill pipe from New Age (African Global Energy).

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).

Photo - see caption
20 inch drill pipes

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.

It is the company's intention to use as much of this inventory as possible in its own drilling 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.

Mandhir Singh, Chairman: 'This deal demonstrates the company's determination to become a profitable oil producing company in 2023. This deal shows the company ability to get deals done and progress its plans without any large financial outlay or capital expenditure.  The company is working tirelessly towards the signing of its first Sudanese oil deal so it can put the inventory to good use at the earliest possible opportunity.'

Original article link

Source: Wildcat Petroleum

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 237

Completed Deals

Completed Upstream Deals: 6558

Company Profiles

Current Company Profiles: 2912

Corporate Activity

Current Corporate Activity articles: 4134

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1653


Current Geostudies articles: 964

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Government of South Australia
Telos NRG
Rose & Assocs
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675