REG-Cadogan Petroleum: Operations Update <Origin Href="QuoteRef">CADP.L</Origin>

Cadogan Energy SolutionsAnnouncement

22/02/2018 11:10

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”)

Successful Stimulation of the
Blazh-1 well Increases Production

Cadogan Petroleum plc (“Cadogan”), an independent, oil & gas company
listed on the London Stock Exchange, is pleased to announce that production
from the Blazh-1 well on the Monastyretska field has nearly doubled to
63 bpd following the successful completion of a work-over to stimulate the
well.  

The Blazh-1 well is being monitored as part of a reservoir surveillance
program aimed at optimizing the performance of the entire field. As a result
of this stimulation, Cadogan’s current production (oil and gas combined) has
increased to 219 boepd (205 boepd net to Cadogan).

The team and the equipment have been relocated to the Blazh-3 well to execute
a work-over and chemical treatment. This operation is scheduled to be
completed in approximately four weeks.

The Monastyretska field is located in the Lviv region of Western Ukraine. Oil
produced from the field has a negligible gas and water content, is treated
locally and exported by truck by the buyers. The Group holds a 100 per cent
working interest in the license.

-ENDS-

 About

Cadogan is an independent oil and gas company. Cadogan operates exploration
and production licenses in Western Ukraine, conducts gas trading operations,
and provides services to E&P companies.

For further information, please contact:

 Cadogan Petroleum plc                                                    
 Guido Michelotti          Chief Executive Officer  +380 (44) 594 5870    
 Ben Harber                Company Secretary        +44 0207 264 4366     
                                                                          
 Cantor Fitzgerald Europe                                                 
 David Porter                                       +44 (0) 20 7894 7000  
 Nick Tulloch                                                             



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