TIDMCAD

RNS Number : 4833Y

Cadogan Petroleum PLC

23 December 2010

Cadogan Petroleum plc ("Cadogan" or "the Company")

Pokrovska 1

Directional drilling of Pokrovska 1 has been progressing according to programme and results to date support management's original structural interpretation. The well has encountered strong indications of gas on the LWD logs over significant sections in the Lower Visean.

Due to the onset of winter weather and the complexity of the drilling operations, it has been decided that operations will be suspended temporarily at the current depth of 5450 meters.

Management have commenced discussions on using an alternative all-weather rig and hope to recommence drilling operations early in 2011.

Enquiries

 
 Cadogan Petroleum Plc    + 44 20 7245 0801 
 Ian Baron, CEO 
  Gordon Stein, CFO 
  Stefan Bort, Company 
  Secretary 
 Matrix                   +44 20 3206 7000 
 Robin Henshall 
 James Pope 
 Bankside Consultants     +44 20 7367 8888 
 Simon Rothschild

This information is provided by RNS

The company news service from the London Stock Exchange

END

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