Wildcat is pleased to announce 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). This is a clear demonstration
of the company’s determination to become a producing oil company in 2023.
New Age (African Global Energy) Ltd is currently decommissioning its Ethiopian drill site in
the Ogaden Basin (El Kuran). Once all the necessary paperwork, due diligence and final
agreement has been concluded, the equipment and supplies will be shipped 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 any future
drilling/well rehabilitation program in Sudan. Any equipment or supplies not used/needed
(including shipping containers) will be sold, and the funds reinvested into oil production
operations in Sudan.