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Given the large director buy of over 1 million at a sp of 4.2 when this has been below that for weeks then it would suggest we may well see an RNS announcing that the €21 million loan has been repaid. This has an mcap of just £9mill and is producing profit and barrels of oil! If the loan is repaid then on top of the cash holding they have already then this should be 40p+ approx. 80m mcap at least!
20th May 2021
This announcement contains inside information as defined under the Market Abuse
Regulations n. 596/2014
Cadogan Petroleum Plc
("Cadogan" or the "Company")
CEO Dealings - Market Share Purchase
Cadogan Petroleum plc ("Cadogan" or the "Company") today announces that its
CEO, Mr. Fady Khallouf, has purchased on 18 May 2021 and 19 May 2021, a total
of 1,088,424 ordinary shares of £0.03 each, in the capital of the Company, on
the London Stock Exchange at a price of £0.042 each.
Following this purchase Mr Fady Khallouf holds in total 9,425,455 shares
representing 3.86 % of the Company.
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
Appendix
The notification detailed above and summarised in the table below is made in
accordance with the requirements of the EU Market Abuse Regulations as follows:
Fady Khallouf, CEO purchased 988,424 shares at £0.042 per share on 18 May 2021
and 100,000 shares at £0.042 per share on 19 May 2021.
1. Details of PDMR/ person closely associated with them ('PCA')
a) Name Fady Khallouf
2. Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification / Initial notification of purchase of shares
Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cadogan Petroleum plc
b) LEI 213800JIBKL29FAK1213
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
Description of the Ordinary shares of 3 pence each
financial instrument, type
of instrument
Identification code GB00B12WC938
b) Nature of the transaction Purchase of ordinary shares
c) Price(s) and volume(s) Price(s)
Volume(s)
£0.042
988,424
£
0.042
100,000
Aggregated information
- Aggregated volume 1,088,424
- Price £0.042
e) Date of the transaction 18 May 2021 and 19 May 2021
f) Place of the transaction XLON
Option 5. however unlikely ..
Agreement reached with Proger board to IPO. This would provide Cadogan with an exit at a market value for its investment in Proger.
10p is fair value , theirs a lot more that cad own and operate
other oilies are racing higher, we just been valued at cash
crazy market. we should be near 10p
Regarding being able to sell but no to buy any, it sounds like the market maker is wanting to fill a buy order and a buyer is taking advantage of the nervous sellers.
I would have thought that with an 11% drop that it would be easy to buy but difficult to sell yet I tried 3 times to get a quote to buy and could not. I did not try a limit order though. This was after the 100k buy @ 4p. I was trying to move from one account to another (not a bed&ISA); instantly got a dummy sell quote however. I have known this happen before on other shares both before a share rise and before a share fall so I cannot read anything into it. I remain very confused with this share, talk about a soap opera! If they owned assets in the legal sector it would make more sense....
I took up a decent position here prior to the announcement Proger had defaulted. Sitting underwater right not and imagine this will
Drift south with no news. Hopefully we see some progress soon for all shareholders
That's been a month now since the last update on Proger, status?
1. In civil negations directly with Proger to resolve the issue.
2. We're seeking legal route to resolve this and have a tight contract to get a positive outcome.
3. The contract is not worth the paper it's written on and Proger know it, we can seek legal but it's a waste of time.
4. The loan is lost, CAD know it and are delaying informing the market.
I'm in between 2-3 at the moment and the longer we go on without any update leaning towards 3, gotta be an update on the status soon to give some confidence back.
This is good news because the Supreme Court found no reason to deny Cadogan an appeal.
So Pirkivska licence renewal should be validated when the Supreme Court judges have looked at the case papers.
S
sorry, what is this "Pirkivska license - Supreme Court challenge:" means to CAD?
Pirkivska license - Supreme Court challenge:
APPROVAL
April 6, 2021
Kiev
case ?640 / 12569/19
administrative proceedings ?? / 9901/10217/21
The Supreme Court, composed of a panel of judges of the Administrative Court of Cassation :
Judge-Rapporteur - Stetsenko SG,
Judges: Strelets TG, Tatsiy LV,
having examined the cassation appeal of the Limited Liability Company "ASTROGAS" against the decision of the District Administrative Court of Kyiv from 06.10.2020 and the decision of the Sixth Administrative Court of Appeal from 23.02.2021 in case ?640 / 12569/19 on the claim of the Limited Liability Company "ASTROGAS" to the State services of geology and subsoil of Ukraine, third parties: Limited Liability Company "Naftogazsekspluatatsiya", the company "Oy Land Gez Eversiz Trading BV", on the recognition of inaction illegal and the obligation to take action.
More informations here:
hxxps://reyestr.court.gov.ua/Review/96080819
It hit 50p a few years back
Twitter has raised the profile of this undervalued company
it's risen on 5 trades, just think on news when this will have 1000 trades sp will be in double digits
15p+ target
Ratty, that looks correct.
£11 Million held in there accounts at present
plus 7 Billion of stored gas
Tax refund
Oil producing assets
Servicing sector company
Oil & gas trading company
Court case on well licence to be resolved soon
Extension to Bitlyanska for 20 Year licence
£14,857,350 owed by Proger SRL
Italian management were kicked out ages ago. Do keep up.
Krok as always you never research - even if we never see a penny from the loan which we will in some form or another , here is a basic of Cadogan
Adding to the £11 Million held in there accounts at present
plus 7 Billion of stored gas
Tax refund
Oil producing assets
Servicing sector company
Oil & gas trading company
Court case on well licence to be resolved soon
Extension to Bitlyanska for 20 Year licence
£14,857,350 owed by Proger SRL
That around about cover Cadogan
Win-win situation, RTO of Proger into CAD. Lol, what a naivety
Dont touch this sh@t, it is worth nothing
From the very beginning it was plain clear CAD and Proger has been acting in concert to get cash out of CAD
There will be no repayment
CAD assets are worthless, so it gradually spends the remaining cash on its Italian management
Yep, looks very dodgy. I mean where did it all go so wrong. Not invested either thankfully.
Intothedeep
Yes same here. Not invested atm but been watching recently. Interesting to see how this plays out.
FYI I'm not invested but watching to see if there a point to buy in at.
The RNS by Proger is a somewhat laughable in their attempt to protect Proger Spa (the ultimate parent company) by disputing any link between the capital increases that happened in 2019 and did they use the loan from CAD for that ... I dont that makes any difference what they did with the loan as the terms of the loan are quite clear that CAD will take a % stake in PMP should PMP default and therefore ultimately will take a stake in Proger Spa.
Just like I expected. Throw in COVID and you’ll ha e a might long wait no doubt. Very shady indeed! Gla, I’m out