TIDMCAD

RNS Number : 9346Y

Cadogan Petroleum PLC

05 January 2011

5 January 2011

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

Payment Received

In line with the settlement agreement entered into with Global Process Systems Inc ("GPS") in October 2009, Cadogan has received all payments due to date under that agreement totalling $7.5 million. This figure includes the $6.5 million that GPS advised would be paid by the end of the financial year. The remaining $30 million is due for payment by GPS during 2011 in accordance with the schedule agreed at the time of the settlement.

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

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