Wildcat Petroleum partners with Crown Energy to explore blockchain use
Mon, 19th Apr 2021 14:46
(Alliance News) - Wildcat Petroleum PLC on Monday announced it had signed an agreement with Crown Energy AB to explore the use of blockchain technology in the oil and gas sector.
Wildcat, a firm targeting investment opportunities within the upstream sector of the petroleum industry, said it had signed a memorandum of understanding with Crown Energy for its potential participation in any future Initial coin offering that Wildcat launch. Stockholm-listed Crown Energy specialises in oil and gas exploration in Africa and the Middle East.
London-headquartered Wildcat is working on a proprietary and innovative model to monetise hydrocarbon blocks based on blockchain technology . The model is in development and will be launched by 2022, it said.
Wildcat Petroleum plc (LSE: WCAT),which is targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, and exploring the implementation of blockchain technology within the sector, is pleased to announce that it has signed a Memorandum of Understanding (the MoU ) with Crown Energy AB ( Crown Energy ) the NGM Main Regulated Stockholm listed international group focused on oil and gas exploration in Africa and the Middle East, for their potential participation in any future Initial Coin Offering ( ICO ) that Wildcat may launch. Wildcat is working on a proprietary and innovative model to monetise hydrocarbon blocks based on Blockchain Technology. The model is currently in development and hopefully by the end of 2021 the final version will be launched. Crown Energy has oil blocks in Madagascar, South Africa, and Iraq. These blocks potentially contain 2.5 billion of barrels of oil equivalent of prospecti
Mon, 19th Apr 2021 14:46
(Alliance News) - Wildcat Petroleum PLC on Monday announced it had signed an agreement with Crown Energy AB to explore the use of blockchain technology in the oil and gas sector.
Wildcat, a firm targeting investment opportunities within the upstream sector of the petroleum industry, said it had signed a memorandum of understanding with Crown Energy for its potential participation in any future Initial coin offering that Wildcat launch. Stockholm-listed Crown Energy specialises in oil and gas exploration in Africa and the Middle East.
London-headquartered Wildcat is working on a proprietary and innovative model to monetise hydrocarbon blocks based on blockchain technology . The model is in development and will be launched by 2022, it said.
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A look at some of the major movers in London on Monday
Wildcat Petroleum PLC (LON:WCAT) jumped 10% to 3.3p after Crown Energy AB got on board concerning a potential initial coin offering.
Wildcat is working on a proprietary and innovative model to monetise hydrocarbon blocks based on Blockchain Technology. The model is currently in development and hopefully, by the end of 2021, the final version will be launched.
Crown Energy has oil blocks in Madagascar, South Africa, and Iraq. These blocks potentially contain 2.5 billion of barrels of oil equivalent of prospective and contingent oil resources. The two parties believe there may be scope to tokenise these prospective oil resources.
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