Loan to Proger Managers & Partners srl

  22March 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

A bout

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]