Petroleum Africa
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Monday, October 3, 2022
Wildcat Petroleum Plc announced it has received backing from natural resources specialist investor, Waterford Finance and investment Ltd (Waterford). The owner of Waterford, Mikhail Kroupeev will join WCAT as a strategic adviser to its Board of Directors and Waterford will also take a nominal equity stake in Wildcat.
The Waterford Group was established in 1995 as an investment vehicle for Mr Kroupeev and invests mainly in upstream petroleum projects and since its inception, the fund has invested in over a dozen such projects, both public and private. In London, the company has invested in listed petroleum companies including Emerald Energy, Dana Petroleum, Anglo-Siberian, EuroSov Petroleum, Gulfsands Petroleum, Sterling Energy, Petroceltic and Sibir Energy.
Wildcat will be able to draw upon Mr Kroupeev’s extensive experience of managing listed oil companies as well as raising finance and negotiating significant petroleum sector deals. Wildcat will seek to leverage the extensive financial and petroleum network Mr Kroupeev has built up over the last 30 years, working with major investors, funds and major oil companies.
Mandhir Singh, Chairman of Wildcat, commented: “The management of Wildcat is delighted to secure the backing of such a successful and experienced partner.
“The support provided by Waterford and Mr Kroupeev and their extensive networks will help to accelerate the process of Wildcat becoming a profitable, producing oil company with a high impact exploration division. This relationship will also allow Wildcat to tackle significant oil projects.
“With oil energy prices at historical levels WCAT remains laser focused on securing a stake in a significant African oil producing asset, ASAP.”
Mikhail Kroupeev, founder and owner of Waterford, commented “We believe that Wildcat Petroleum are part of what will likely be the next generation of successful oil Industry players, focused particularly on the opportunity in Africa.
“Waterford is glad to be aboard near the beginning of the journey during which Wildcat has the potential to turn itself into a major force in the African up-stream Petroleum sector. We will provide Wildcat with all the support it requires directly and through our network so that it can achieve its ambitious strategic objectives.
“The management of the company are highly innovative and motivated which fits with our own attitude and investment approach. The can-do attitude of the company as well as its high ambition gives us confidence that Wildcat has the potential to become the next successful African mid-tier oil company.”
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