Bitlyanska exploration license

Press Release                                                                                                                                    30 December 2019

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

Cadogan Petroleum Plc

(“Cadogan” or the “Company”)

Bitlyanska exploration license

Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, announces that the Bitlyanska exploration license expired on the 23^rd December.

During the license validity term, the Company has fully fulfilled the work programme and obligations without any breach. The application for a 20-year exploration and production license was filed in due time and is progressing positively; all required intermediate approvals, including that of the regional Council of L’viv, had been secured in due time.

Further announcements will follow in due course.

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                  [e-mail]
Ben Harber                         Company Secretary                         [phone]

Cantor Fitzgerald Europe, Broker to Cadogan Petroleum plc

David Porter                                                                                       [phone]