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Cadogan Petroleum Plc - Sale of Astroinvest Ukraine

Press Release                                                                                        15 November 2019

This  announcement contains inside information as defined under the Market Abuse Regulations  n. 596/2014

Cadogan Petroleum Plc

(“Cadogan” or the “Company”)

Sale of Astroinvest Ukraine

Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, is pleased to announce that it has reached an agreement with Ukrinvest Group for the sale of AstroInvest Ukraine LLC for a total consideration of $1.2 million, bringing the total amount from the sale of legacy assets to $4m in recent weeks.  

AstroInvest Ukraine LLC is one of two wholly owned subsidiaries, based in the East of Ukraine.

This Announcement has been issued by, and is the sole responsibility of, the Company.

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

Ben Harber                         Company Secretary                         +44 0207 264 4366

Cantor Fitzgerald Europe,   Broker to Cadogan Petroleum plc

David Porter                                                                                       +44 (0) 20 7894 7000