Wildcat Petroleum soars as it enlists services of entrepreneur Michael Edelson

Wildcat Petroleum PLC (LON:WCAT), which floated at the end of 2020, soared 69% to 1.65p after it appointed Michael Edelson as a senior business adviser.

The company, which is seeking to transform the way things are done within the petroleum industry with the implementation of block-chain technology, said Edelson has helped to float more than 20 companies during his career, one of which was ASOS.

The company will be drawing upon Edelson’s extensive experience and connections to help it source investment opportunities and develop business partnerships.

Oilex Limited (LON:OEX) jumped 29% to 0.1225p after it said it is close to resolving its dispute with the Gujarat State Petroleum Corporation (GSPC).

Oilex and GSPC are in advanced discussions where it is proposed that Oilex will acquire GSPC’s 55% participating interest in the Cambay production sharing contract.

Oilex added it is in advanced discussions with third parties to provide finance, including working capital, to Oilex should a sale be agreed.

Story by ProactiveInvestors