Cadogan Energy Solutions Plc - Extension of Leases

Cadogan Energy Solutions Plc - Extension of Leases

PR Newswire

London, April 26

Press Release27April 2023

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

Cadogan Energy Solutions Plc

("Cadogan" or the "Company")

Cadogan Energy Solutions plc ("Cadogan"), the London Stock Exchange listed independent energy company is pleased to provide the following update.

PJSC Ukrnafta, the largest oil company in Ukraine, and Cadogan have signed the extension of Blazhiv-3 and Blazhiv-Monastyrets-3 wells lease contracts for a 5-year period. The signature of this lease extension ahead the expiry period will allow to avoid a production stoppage and to secure profit inflows for both parties during this unprecedented, severe and challenging context which Ukraine is facing now.

This was possible thanks to the solid professional cooperation between the parties during the past term and the proactive and constructive approach of PJSC Ukrnafta under the leadership of its management during the extension award process.

ENDS

About

Cadogan is an independent, energy company, which operates an exploration and production license in Western Ukraine, conducts gas trading operations, and provides services to E&P companies. The aim of the Company is to be a diversified energy group making investments offering energy solutions and alternative services with a lower environmental impact.

For further information, please contact:

Cadogan Energy Solutions plc
Fady Khallouf Chief Executive Officer [e-mail]
Ben Harber Company Secretary [phone]