22 March 2021
This announcement contains inside information as defined under
the Market Abuse Regulations n. 596/2014
Cadogan Petroleum Plc
(“Cadogan” or the “Company”)
Loan to Proger
Managers & Partners srl
Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange
listed independent oil and gas company, reports that despite an
additional 3-week extension given to Proger Managers & Partners
(“PMP”) to comply with their duties for the reimbursement of the
Loan, principal and interest accrued, the Company has not received
payment or supplemental proposal for the repayment of the loan.
In this context, PMP has been in default since 25 February 2021, being the Maturity Date of the
Loan Agreement.
With effect from today, Cadogan will engage all the necessary
legal actions to protect the interests of the Company and all of
the Company’s stakeholders via the competent authorities.
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