REG-Cadogan Petroleum: Well Update

Cadogan Energy SolutionsAnnouncement

08/11/2018 10:50

Press Release 8 November 2018                                                                                        
 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”)

Well Update

Cadogan Petroleum plc. (“Cadogan”), an independent, diversified, oil & gas
company listed on the London Stock Exchange, announces the Vovche-2
well reached the planned total depth and was completed on  time and budget.

Both pre-drill target horizons were penetrated and resulted oil bearing from
logs. Oil saturation in the lower target was further confirmed by cores. A
third, thinner interval, appears as potentially oil bearing from logs.

The well has been cased and  is being tested to establish whether it is
capable of sustaining commercial production rates. 

The results of the well tests will be communicated in due course.

-ENDS-

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 Nick Tulloch                           +44 (0) 20 7894 7000  



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