Cadogan Petroleum Plc - Loan to Proger Managers & Partners srl

Cadogan Petroleum Plc - Loan to Proger Managers & Partners srl

PR Newswire

London, March 25

26March 2021

This announcement contains inside information as defined under the Market Abuse Regulations n. 596/2014

Cadogan Petroleum Plc

("Cadogan" or the "Company")

Loan to Proger Managers & Partners srl

Cadogan Petroleum plc ("Cadogan"), the London Stock Exchange listed independent oil and gas company, reports that the announcement released yesterday by Proger Managers & Partners Srl and Proger Spa is totally groundless.

Proger Managers & Partners are using a dilatory tactic to delay the reimbursement of the Loan.

Cadogan restates that according to the Loan Agreement, Proger Managers & Partners have been in default since 25 February 2021, being the Maturity Date. As already announced, Cadogan will engage all the necessary legal actions to protect the interests of the Company and all of the Company's stakeholders via the necessary competent authorities.

ENDS

About

Cadogan is an independent, diversified oil and gas company, which 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
Fady Khallouf Chief Executive Officer [e-mail]
Ben Harber Company Secretary [phone]