Business
CCEG report on role of Blockchain in Oil and Gas
CCEG report on role of Blockchain in Oil and Gas.
About this update from Wildcat Gold Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2427T\n Wildcat Petroleum PLC\n 24 March 2021\n \n \n \n \n Reach\n \n \n 24 March 2021\n \n \n Wildcat Petroleum Plc\n \n \n (\"Wildcat\" or the \"Company\")\n \n \n Interim report by CCEG on the role of Blockchain in Oil and Gas completed\n \n \n \n \n \n The Board of Wildcat, the LSE listed Company 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 the report commissioned by Wildcat (the \"Report\") from the Centre for Citizenship, Enterprise and Governance (\"CCEG\") has been completed, received and reviewed by the Company. \n \n \n \n \n \n The Report highlights numerous ways in which the application of blockchain technology could be applied to the sector and may enhance returns for shareholders. These included:\n \n \n \n \n \n ·\n First mover advantage, which may enable Wildcat to establish a dominant position within the upstream oil industry in relation to oil assets and tokens;\n \n \n · \n Increasing Wildcat's shareholder base around the world;\n \n \n · \n Potential to revolutionise and democratise the oil and gas industry;\n \n \n ·\n Garnering institutional or sovereign wealth fund support for the project, particularly within oil producing Gulf States where CCEG has already established high level contacts in countries such as the UAE & Saudi Arabia;\n \n \n · \n Enhancing shareholder returns via \"Airdrops\" (issuing free tokens to shareholders);\n \n \n · \n Establishing a global presence by registering in Dubai (Gulf investors) & Singapore (Far East investors) and;\n \n \n · \n Potential to secure oil assets by the issuance of tokens alongside use of cash, debt or equity.\n \n \n \n \n \n CCEG has presented the Wildcat Board with a number of possible business models, which the Company might be able to implement and the Board feels that there is a high probability that one or a combination of these models would be viable and would, importantly, be accepted by the FCA and fit within the current UK regulatory framework. As a result, the company has mandated CCEG and specialist blockchain lawyers at 'gunnercooke LLP' to explore the best ways to drive forward with these ambitions. They are man...