Wildcat Petroleum (WCAT) H1 2025 earnings summary

Executive summary

• Focused on acquiring upstream petroleum assets, especially in South Sudan, with ongoing discussions and agreements with Nilepet and SFF.

• Completed a share placement raising £156,000 (net £145,000) and issued 130 million new shares.

• Signed a Collaboration Agreement with South Africa's SFF to evaluate and potentially acquire PETRONAS assets.

• Appointed a new consultant to expand the shareholder base, targeting institutional investors.

Financial highlights

• Operating loss of £154k for the six months to 31 Dec 2024, compared to a profit of £131k in the prior year period (due to expired warrants adjustment).

• Administrative expenses totaled £154k, up from £125k in the same period last year.

• Cash balance at 31 Dec 2024 was £257k, down from £416k at 31 Dec 2023.

• Net current assets of £248k at 31 Dec 2024, compared to £376k at 31 Dec 2023.

• No revenue reported; business remains pre-revenue and focused on asset acquisition.

Outlook and guidance

• Continues to pursue oil and gas opportunities in South Sudan and other African regions.

• Ongoing discussions with Nilepet and SFF to acquire PETRONAS assets.

• Directors believe sufficient resources exist to operate for at least twelve months from the report date.