Press Release
19 November
2019
This announcement contains inside information as defined
under the Market Abuse Regulations n. 596/2014
Cadogan Petroleum
Plc
(“Cadogan” or
the “Company”)
Monastyretska license
Cadogan Petroleum plc (“Cadogan”), an independent, diversified
oil & gas company listed on the main market of the London Stock
Exchange, announces that for temporary internal procedural reasons
the licensing authority in Ukraine, the SGS, has not been able to provide
final approval for the 20-years production license for
Monastyretska.
All intermediate approvals for the production license, including
that of the regional Council of L’viv, had been secured in due
time. The exploration licenses for Monastyretska has expired at
midnight on the 18th November.
In the intervening period, the Company has started preparing the
field and the wells for a temporary suspension of its production
operations, which cannot continue without a valid permit.
Suspension is not expected to last long and the company is ready to
resume production as soon as the license is awarded.
Further announcements will follow in due course.
ENDS
About
Cadogan is an independent, diversified oil and gas company, which
operates exploration and production licenses in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies.
For further information, please
contact:
Cadogan Petroleum plc
Fady Khallouf
Chief Executive
Officer
fady.khallouf@cadoganpetroleum.com
Ben Harber
Company Secretary
+44 0207 264 4366
Cantor Fitzgerald Europe, Broker to Cadogan Petroleum
plc
David
Porter
+44 (0) 20 7894 7000