Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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With the possibility of news tomorrow (7 days will be up), I think we'll get a rally this afternoon. If you're interested in HE1 then you won't want to be out overnight.
If the news is good (which I expect) then the sp is anyone's guess!
Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, announces that it intends to change its name to Cadogan Energy Solutions Plc. The directors believe that the change of name will more closely align the Company with its strategy to expand activities beyond the oil and gas sector to new forms of energy which have a reduced impact on the environment.
The proposed change of name, in order to take effect, requires shareholders to pass a special resolution at a general meeting of the Company. A notice of general meeting to propose the change of name, as well as another resolution to update the Company’s articles of association, was mailed to the Company’s shareholders today and is available for download from the Investor Centre section on the Company’s website
To get his company going ?
Loan to Proger Managers & Partners srl - Arbitral Update
Released : 08/08/2022 07:00
8 August 2022
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 - Arbitral proceeding
Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange listed independent oil and gas company, reports that on August 1st, 2022, Mr. Marco Lombardi, the Director of Proger Managers & Partners S.r.l. sent out an announcement on the result of the arbitral proceeding between the aforementioned company together with MA.LO. s.r.l., TIFS Partecipazioni s.r.l. and Proger Ingegneria s.r.l., on the one hand and Cadogan Petroleum Holding B.V. on the other hand.
This announcement does not reflect the effective result of the arbitral proceeding and it represents inaccurate and incomplete information to the market.
The Arbitral Committee:
- rejected Proger’s principal claim, and declared that the Loan Agreement is valid and effective,
- deemed to qualify the Call Option as a preliminary contract under condition, but
- rejected Proger’s claim ex art. 2932 Italian Civil Code, stating that it is impossible to give an award producing the same effects of a final contract ex art. 2932 Italian Civil Code,
- this because of the duties established by the rules of the London Regulatory Authority and because of the need, possibly by both parties, to comply with the due proceedings before the formalization of the entry of Cadogan into the capital of Proger Ingegneria,
- subordinated the stipulation of the final contract to the precedent completion of the proceeding and bureaucratic process as per the British rules, stating that, otherwise,
- there is the obligation on Proger Ingegneria to return the payment received under the Loan Agreement,
- compensated all the expenses of the proceeding.
Therefore, the award stated, among other things, that if the condition does not become effective and if the final contract is not signed, Proger Ingegneria is under the obligation to return the payment received according to the Loan Agreement, which was confirmed as valid and effective, for capital and interests.
Cadogan reserves the right to take all further actions and initiatives in any competent venue.
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 fady.khallouf@cadoganpetroleum.com
Ben Harber Company Secretary +44 0207 264 4366
Credit to itsriskythat for posting on ADVFN
not my words but fully explains
I had to read it twice carefully, but the RNS is clear.
The loan agreement is valid and currently effective.
The call option to convert the loan into equity is a preliminary contract and not a final contract.
Under Italian Civil code the tribunal cannot make an award in favour of either party unless the contract was a final contract.
A final contract can only be entered into by the two parties after completion of London regulatory process and the approval of Cadogan shareholders.
If a final contract is not entered into, it remains that Proger Ingeneria is obliged to return the payment with compensation for expenses.
Cadogan has the right to take further actions.
I have sent an e-mail to the company, asking if they can translate the findings of the arbitration into plain English. The possibility of a response is negligible, but one can live in hope.
yes it's all very odd isn't it? What we need is a buy back scheme to utilize the cash pile or a dividend from last years oil price bonanza. Yet this C.E.O seems incapable of doing anything, to support the share price. The only thing I can suggest is voting him out at the next A.G.M, and get somebody in with the interests of the company and the shareholders in mind. I'm amazed no-one has attempted a takeover to get their hands on the cash mountain
And still price is in the floor with no appreciation whatsoever.
Not Really they have 4 times more cash held outside Ukraine then this company is worth with no debt.
Well this was a bad move
https://www.lse.co.uk/rns/CAD/operations-update-hoh855zgivdygwx.htm
Closing price of 3.25p again on 31/12/22?
Any news due this year on any project?
*tumbleweed*
In short without reading positive news for Cadogan
this is one of company with larger assets than mcap , yet news is poor and sentiment is low.
perhaps that is about to change? maybe last chance to get in this low?
Same. Emailed when I was in earlier this year. Sub 3p looks good for a trade.
Trading update due as per previous statements
with the price of oil and gas they should be raking in the money, and the share price should be moving ahead nicely. It's becoming quite surreal, with the share price trading at circa 20% of it's real value. I have written to the company 3 times requesting information, but of course, no reply has been forthcoming. It's all quite worrying
Tried looking up the company sold but this is Cyprus home of hiding cash.
So maybe where the additional cash came from , total guess
Absolutely no reaction. Neutral news?
Disappointing. Will probably settle back down to no reaction soon as well
interims' seem to have come and gone with very little reaction. I expected the price to go up by 1p with the extra $3 million dollars in the bank. Proger has gone to arbitration, so a long wait there. No news on the license, so another long wait.