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Last post: Craignews, 31 Jan 2024 11:52
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!
Started: Coat-hanger, 31 Oct 2022 18:13
Last post: Coat-hanger, 31 Oct 2022 18:13
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
Started: Rocket999, 17 Oct 2022 22:49
Last post: Rocket999, 17 Oct 2022 22:49
To get his company going ?
Started: henrylegg, 9 Aug 2022 11:12
Last post: Thordon, 4 Sep 2022 17:13
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.
Last post: henrylegg, 29 Mar 2022 17:54
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
Started: Rocket999, 3 Jan 2022 20:47
Last post: Thordon, 12 Jan 2022 22:02
Closing price of 3.25p again on 31/12/22?
Any news due this year on any project?
Started: Poodingen, 13 Dec 2021 21:57
Last post: Poodingen, 13 Dec 2021 21:57
*tumbleweed*
Started: ivans, 1 Dec 2021 23:47
Last post: Thordon, 6 Dec 2021 22:18
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?
Started: Poodingen, 1 Oct 2021 14:02
Last post: Gloster, 25 Nov 2021 11:12
Same. Emailed when I was in earlier this year. Sub 3p looks good for a trade.
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?
Started: Thordon, 8 Oct 2021 20:18
Last post: Thordon, 8 Oct 2021 20:18
Trading update due as per previous statements
Last post: Poodingen, 9 Sep 2021 15:41
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.
yes, that really is depressing. And we are paying our great leader close on a million euros to stop Cad having a share of this success story. Beggars belief
Not a massive risk as have assets , produce oil and cash near equal to value plus several court cases.
Only one trade today - mine. I like these kind of shares, but I guess quite risky with outcome of legal struggle.
The idea was to list proger on the stock market , but for that to happen would need all parties to support the idea
Started: Poodingen, 14 Jul 2021 17:05
Last post: Poodingen, 14 Jul 2021 17:05
Can people buy some petrol please? ? ??
Last post: henrylegg, 25 Jun 2021 10:41
That's all assuming Proger can raise the money. Remember when the loan was taken out, there was no intention of it being repaid. Still think Cad would have been better taking a stake in Proger. Oil won't last forever, and any move away from The Ukraine is a good one. On the optimistic side Cad squeezing Proger hard may result in the granting of more concessions by the beleaguered Proger.
On slightly different note I see our 'great' P.M. is getting matey with the Ukrainians, perhaps he could kindly ask that British firms are no longer subject to the corruption endemic in The Ukraine. Or even better start addressing the corruption endemic in the U.K
My initial reaction to learning that Fady Khallouf gains 5% bonus on success in recovering the proper money was to be cynical.
Firstly I'd rather the Cadogan retains 95% of the recovered amount than loses everything or as good as if the legal teams get into action and take ten years to follow due process. Secondly it won't cost Cadogan 5% because it is proposed Fady takes half the bonus in shares which costs nothing. As a final point he knows better than anyone the personnel involved here and is better placed to drive the recovery of the Proger money than an independent legal expert managing the process.
So overall it isn't such a bad way to go.
agm today, not that that will will cause any sensations. We'll have to wait til September for the half year results which will surely show an healthy profit and add to the considerable cash pile. I note there is a proposal in the A.G.M to pay our wonderful C.E.O a 5% bonus of the Proger money when he secures its return, which would wipe out half the profit on the loan. Nice money if you can get it, let's up somebody warms the trough before he sticks his snout in. Let's turn down a golden opportunity to diversify away from oil into a highly successful company, and expand our portfolio, or seize an opportunity to fill our pockets. Well it's a dilemma. No wonder the share price is 4p. Okay having had my rant I feel happier.
Started: Rocket999, 18 Jun 2021 11:30
Last post: Rocket999, 18 Jun 2021 11:30
Been here for a number of years now buying in at around 7p. What’s the reasons for Fady making those share purchases back in May?
Started: ivans, 16 Jun 2021 15:23
Last post: henrylegg, 16 Jun 2021 16:11
I'm sure everybody in the world would agree with that statement. Time for Fady to stand up and announce some plans/ambitions for the company, cos at present he doesn't seem to have any. I think it would be better if Cad went into voluntary liquidation, certainly from my point of view , and shared out all the lolly. It must be a unique situation for a company to be worth so much more money dead than alive
surely our valuation /mcap should be more than double than now.
we are still price in as if oil price is around $45
Poodingen if you are short investor then best find another share , this company could bounce 200% on news of loan repaid and also on high court on well licence or tax refund.
The point is that its a waiting game so long term investor
Well... that hasn't happened ??????
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
Started: Poodingen, 12 Jun 2021 13:01
Last post: Poodingen, 12 Jun 2021 13:01
I've not seen very much chatter about this stock... Any news?
Started: ivans, 24 May 2021 23:27
Last post: Thordon, 25 May 2021 22:23
In short term based on oil recovery we are now in profit mode for CAD
Yes! Expect another big day today and for more people to notice this and realise what's going on when it appears on the top risers board again!
Odds on an RNS stating the 21mill has been repaid? 9mill mcap...30p here we come!
expect more TR1 soon and sp will gradually rise towards 10p soon for starter.
Last post: Thordon, 24 May 2021 17:37
Lets hope , will check the courts for any updates as well
Would have been a late reported buy from Friday or an UT.
Either way 30% up already. Should see 100% today then maybe an RNS about the €21mill loan that has been repaid and we should get 30p by end of the week with this still only having an mcap of 10mill
Lots of shares changing hands at the moment ,some at strange prices. Over on Aquis an apparent large sale of 4.1 is followed by a buy of 4.98, which makes the large sale look like a buy??????? Methinks Fady is too intent to fill his own boots than promote the company. A relatively small amount of cash to buy shares for cancellation would send the price to more reasonable levels
Started: pheonic, 24 May 2021 08:08
Last post: pheonic, 24 May 2021 08:08
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 20 May 2021 1,000,000 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 10,425,455 shares
representing 4.27% 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 1,000,000 shares at £0.042 per share on 20 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
GB00B12WC938
Identification code
b) Nature of the transaction Purchase of ordinary shares
c) Price(s) and volume(s) Price(s)
Volume(s)
£0.042
1,000,000
Aggregated information
- Aggregated volume 1,000,000
- Price £0.042
e) Date of the transaction 20 May 2021
f) Place of the transaction XLON
Started: oats2, 29 Apr 2021 09:00
Last post: Itsriskythat, 30 Apr 2021 10:01
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.
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.
Started: ivans, 29 Apr 2021 20:37
Last post: Thordon, 29 Apr 2021 22:24
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
Started: EarlofAim, 29 Mar 2021 14:42
Last post: Itsriskythat, 18 Apr 2021 13:03
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
Started: EarlofAim, 22 Mar 2021 10:52
Last post: Gloster, 27 Mar 2021 01:57
Italian management were kicked out ages ago. Do keep up.
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
peer
I see Cadogan to be the winner in any deal to come. Either they get €14.8M or 22% of Proger (PMP).
so I think Mms missing the potential here.
according to this post and official statement RTO is looking good.
https://twitter.com/EquityTrader888/status/1373949666690224129?s=19