REG-Cadogan Petroleum: Technical Service Agreements <Origin Href="QuoteRef">CADP.L</Origin>

Cadogan Energy SolutionsAnnouncement

24/02/2016 14:40

Released: 24/02/2016

                             CADOGAN PETROLEUM PLC                             

Cadogan is pleased to announce that it has entered into separate technical
service agreements with LLC "Brend-Vik LTD", a Ukrainian geoscience consultancy
firm, and GM&P a Milan based petroleum consultancy firm. These agreements are
instrumental to pursuing Cadogan's strategy of refocusing the E&P business on
low cost, close-to-production targets, both in Ukraine and internationally.
Guido Michelotti, Cadogan's CEO commented "we are delighted to announce these
partnerships as they supplement Cadogan's skills with a wealth of experience in
all segments of the E&P cycle. This experience will assist Cadogan's management
in re-assessing the existing Ukrainian portfolio while screening for
opportunities, both in Ukraine and internationally, which will allow the
company to grow and diversify its asset base".

Notes:

Cadogan Petroleum plc ("Cadogan"), is an independent oil and gas exploration,
development and production company with onshore gas, condensate and oil assets
in Ukraine.

LLC "Brend-Vik LTD" (www.brend-vikltd.com) is a Ukrainian company highly
experienced in geoscience and reservoir engineering which provides consultancy
services primarily on exploration and project development studies. They have a
highly experienced team which conjugates a deep knowledge of Ukrainian fields
with the western standards and best practices.

GM&P (www.gaspetrolio.com) is a Milan based, petroleum company with significant
experience of serving IOC's and independent operators in the E&P business in a
variety of petroleum provinces. The company was founded and is chaired by Mr G.
Moscato, a former Chairman of ENI and provides a full spectrum of services in
the E&P domain.

Enquiries:

Cadogan Petroleum plc                   +380 (44) 594 5870                     
                                                                               
Guido Michelotti, Chief Executive                                              
Officer                                                                        
Marta Halabala, Company Secretary                                              
                                                                               
Cantor Fitzgerald Europe                +44 (0) 20 7894 7000                   
                                                                               
David Porter                                                                   
Sarah Wharry                                                                   



END



Copyright © 2016 PR Newswire Association, LLC. All Rights Reserved