Operations Update

CADOGAN PETROLEUM PLC ("the Company") Cadogan Operations Update Further to the Company's operations update of 15 May 2014, Cadogan is pleased to report initial results from the sucker rod pump installation in Monastyretska showing an increase in stable production to 40-45 bopd. Performance tests continue and options to further optimise production are being investigated. Negotiations with local operators for the acquisition of two further, existing wells, with the aim of bringing them back to production, are continuing. Enquiries: Cadogan Petroleum Plc +380 (44) 591 0390 Bertrand des Pallieres Chief Executive Officer Laurence Sudwarts Company Secretary Cantor Fitzgerald Europe +44 (0) 20 7894 7000 David Porter Richard Redmayne
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