Trading Statement

RNS Number : 4833Y

Cadogan Petroleum PLC

23 December 2010

 



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

Pokrovska 1

Directional drilling of Pokrovska 1 has been progressing according to programme and results to date support management's original structural interpretation. The well has encountered strong indications of gas on the LWD logs over significant sections in the Lower Visean.

Due to the onset of winter weather and the complexity of the drilling operations, it has been decided that operations will be suspended temporarily at the current depth of 5450 meters.

Management have commenced discussions on using an alternative all-weather rig and hope to recommence drilling operations early in 2011.

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

 

END

 

 

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