Licence developments

RNS Number : 3517Z

Cadogan Petroleum PLC

18 September 2009

 



18 September 2009

Cadogan Petroleum PLC 

('Cadogan' or the 'Company')

Licence developments

Cadogan has been made aware of a resolution dated 26 August 2009 and published today on the web portal of the Ukrainian Government which supports a proposal by the Ministry for the Protection of the Environment to annul and transfer its special permits and licence interests with respect to Pirkovskoe, Zagoryanska, Bitlyanska, Monastyretske and Krasnoyilske to Naftogas of Ukraine, a state-owned oil and gas company, with effect from 23 September 2009. The Company has received no official notification of the resolution from any relevant authority. 

Cadogan believes there is no legal basis for this action and is taking all available steps to defend its interests.

A further announcement will be made as appropriate.

Enquiries:

Cadogan Petroleum	[phone]
Ian Baron
Stefan Bort
Pelham PR
James Henderson	[phone]
Evgeniy Chuikov	[phone]
Philip Dennis	[phone]

 

END

 

 

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