Well Update

Press Release                                                                                                                         8 November 2018

This announcement is deemed to contain Inside Information as defined under the Market Abuse Regulations  n. 596/2014

Cadogan Petroleum Plc.

(“Cadogan” or the “Company”)

Well Update

Cadogan Petroleum plc. (“Cadogan”), an independent, diversified, oil & gas company listed on the London Stock Exchange, announces the Vovche-2 well reached the planned total depth and was completed on  time and budget.

Both pre-drill target horizons were penetrated and resulted oil bearing from logs. Oil saturation in the lower target was further confirmed by cores. A third, thinner interval, appears as potentially oil bearing from logs.

The well has been cased and  is being tested to establish whether it is capable of sustaining commercial production rates. 

The results of the well tests will be communicated in due course.

-ENDS-

For further information, please contact:

Cadogan Petroleum plc.
Guido Michelotti	Chief Executive Officer	[phone]
Ben Harber	Company Secretary	[phone]
Cantor Fitzgerald Europe
David Porter Nick Tulloch		[phone]