Payment Received

RNS Number : 9346Y

Cadogan Petroleum PLC

05 January 2011

 



5 January 2011

Cadogan Petroleum plc ("Cadogan" or the "Company")

Payment Received

In line with the settlement agreement entered into with Global Process Systems Inc ("GPS") in October 2009, Cadogan has received all payments due to date under that agreement  totalling $7.5 million. This figure includes the $6.5 million that GPS advised would be paid by the end of the financial year. The remaining $30 million is due for payment by GPS during 2011 in accordance with the schedule agreed at the time of the settlement. 

Enquiries

Cadogan Petroleum Plc		+ 44 20 7245 0801
Ian Baron, CEO Gordon Stein, CFO Stefan Bort, Company Secretary
Matrix		[phone]
Robin Henshall
James Pope
Bankside Consultants		[phone]
Simon Rothschild

 

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