REG-Cadogan Energy Solutions Plc: Annual Results for the year ended 31 December 2025

Cadogan Energy SolutionsAnnouncement

Today 07:00

20 April 2026

CADOGAN ENERGY SOLUTIONS PLC

Annual Results for the year ended 31 December 2025

The Board of Cadogan Energy Solutions plc, ("Cadogan" or "the Company"), is
pleased to announce the Company's annual results for the year ended 31
December 2025. A summary of the information includes:

Key Financial Highlights of 2025:
*            Loss for the year: $1.1 million (2024: loss of $6.2 million)     
    
*            Average realised price           *           : $46.75/boe (2024:
$71.13/boe)          
*            Gross revenues           **           : $5.8 million (2024: $9.2
million)          
*            G&A           ***           : $4.0 million (2024: $3.5 million)  
        
*            Loss per share: 0.45 cent (2024: loss of 2.6 cents)          
*            Cash and other financial assets (see note 21) at the year-end    
      ****           : $20.1 million (2024: $14.4 million)
Key Operational Highlights of 2025:
*            Oil production: 117,408 bbl (2024: 129,272 bbl), a 9% decrease
year-on-year;          
*            No LTI/TRI           *****           . All employees and assets
have been secured;          
*            In January 2025, Cadogan received 10 million euros as provided in
the Settlement Agreement signed with Proger in December 2024. Subsequently,
Cadogan exited from the Loan Agreement signed in February 2019, ended all the
litigations procedures and dissolved the pledge over the corresponding shares
in Proger Ingegneria;          
*            In Italy, Exploenergy has obtained two gas exploration licences
in Northern Italy, for the Corzano project located in the Lombardia region and
the Reno Centese project located in the Emilia Romagna region;          
*            New decentralised power generation infrastructure has been
developed in Western Ukraine, with a total capacity of 12.3 MW. As of April
2026, 9.2 MW are operating and producing electricity sold to the grid
operator. Remaining 3.1 MW is undergoing commissioning process prior to
operational start;          
*            The Gas-to power infrastructure using the non-commercial gas of
Blazhiv field for producing electricity is operational since February 2026,
and selling electricity to the grid operator; and          
*            The ISO 14001 and 45001 certifications were re-validated by
respective authorities for one year.
The Annual Report and Financial Statements for the year ended 31 December 2025
are attached to this announcement. Alternatively, copies are available on the
Company's website at:                                                     
www.cadoganenergysolutions.com

In accordance with the UK Listing Rules, a copy of the report will be
submitted shortly to the National Storage Mechanism and will shortly be
available for inspection at:                                           
https://data.fca.org.uk/#/nsm/nationalstoragemechanism                        
      .

*                     Average realised price is calculated as total revenue
from oil sales for the period divided by total volume of sold oil for the
period.

**                     Gross revenues of $5.8 million (2024: $9.2 million)
included $0.3 million (2024: nil) from trading of natural gas, $5.5 million
(2024:$9.2 million) from production.

***                     Administrative expenses ("G&A").

****                     Group's cash position is $13.6 million and with an
other financial asset amount of $6.5 million (£4.8 million) being an amount
held on deposit as a collateral for SBLC provided by a UK Bank to one of the
Company's subsidiaries (see note 21).

*****                     LTI: Lost Time Incidents; TRI: Total Recordable
Incidents.

Attachment
*                        260417 Cadogan Group AR 2025_final.pdf
(https://mb.cision.com/Public/22747/4336681/9dc45d749eea073f.pdf)
 

ENDS

About

Cadogan Energy Solutions                     is an independent, multi-energy
group, operating an exploration and production license in Western Ukraine,
with two gas exploration licenses in Northern Italy granted in 2025. Cadogan
is now an operator in the power generation sector. The Company's goal is to
expand its investments across the energy value chain with a focus on energy
solutions and services with a reduced environmental footprint.

For further information, please contact:

Cadogan Energy Solutions plc                     
          Fady Khallouf                     Chief Executive Officer          
           f.khallouf@cadogan-es.com          
          Ben Harber                      Company Secretary                 
    +44 333 242 3976

 

 

 260417 Cadogan Group AR 2025 final  (https://mb.cision.com/Public/22747/4336681/9dc45d749eea073f.pdf)  



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