Wildcat Petroleum PLC on Wednesday announced a clarifying statement.

The Uxbridge, London-based investor in petroleum industry’s upstream sector said it has not been advised by the UK Financial Conduct Authority on what Chief Executive Officer Mandhir Singh can say about the company’s crypto/blockchain plans.

On November 6, Singh gave an interview with Directors Talk which has circulated in social media. ‘Singh regrets some of his comments and now accepts that they may have be misconstrued and wishes to clarify,’ the company said.

‘The current position is that no blockchain activities and token offerings will take place before the company has implemented its investment strategy to acquire an upstream oil and gas asset and it has published a prospectus in line with its listing rule obligations. The company emphasis that the launch of tokens will depend on the regulatory environments at the time, as well as obtaining approval from appropriate regulatory authorities,’ Wildcat Petroleum said.

The company added that there has been no material change to trading since its last report on October 25.

Wildcat Petroleum shares closed 60% higher at 0.27 pence each on Wednesday in London.

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