Press Release
27 April 2023
This announcement contains inside information as defined under
the Market Abuse Regulations n. 596/2014
Cadogan Energy
Solutions Plc
(“Cadogan” or the
“Company”)
Cadogan Energy Solutions plc (“Cadogan”), the London Stock
Exchange listed independent energy company is pleased to provide
the following update.
PJSC Ukrnafta, the largest oil company in Ukraine, and Cadogan have signed the extension
of Blazhiv-3 and Blazhiv-Monastyrets-3 wells lease contracts for a
5-year period. The signature of this lease extension ahead the
expiry period will allow to avoid a production stoppage and to
secure profit inflows for both parties during this unprecedented,
severe and challenging context which Ukraine is facing now.
This was possible thanks to the solid professional cooperation
between the parties during the past term and the proactive and
constructive approach of PJSC Ukrnafta under the leadership of its
management during the extension award process.
ENDS
About
Cadogan is an independent, energy company, which operates
an exploration and production license in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies. The aim of
the Company is to be a diversified energy group making investments
offering energy solutions and alternative services with a lower
environmental impact.
For further information, please
contact:
Cadogan Energy Solutions plc
Fady Khallouf
Chief Executive
Officer
f.khallouf@cadogan-es.com
Ben Harber
Company Secretary
+44 0207 264 4366