Press Release
22nd June 2020
This announcement contains inside information as defined under
the Market Abuse Regulations n. 596/2014
Cadogan Petroleum
Plc
("Cadogan" or the "Company")
Resumption of
production from Blazhiv-3 and Blazhiv-3-Monastyrets.
Operational update
As anticipated in the 2019 Annual Report, Cadogan Petroleum plc
and Ukrnafta have signed on June
18th, 2020 the two lease contracts’ prolongation
for the wells of Blazhiv-3 and Blazhiv-3-Monastyrets. The Company
is pleased to announce the resumption of production from these two
wells. The wells were shut down since November 2019.
-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.
Ukrnafta is the largest oil company in Ukraine, with 62,3% share of the country’s oil
and condensate production. Ukrnafta operate 85 licences and own a
fleet of 24 drilling rigs.
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