(Alliance News) - Cadogan Petroleum PLC on Monday said the regional Council of L'viv has approved the application for a 20-year production license for the Blazhiv field, west Ukraine.
During the same session, the oil & gas firm said the regional Council of L'viv also approved the application for a 20-year license for Bitlyanska field, located in the Carpathians, also in Ukraine.
"This is the last of the intermediate approvals required for the licensing authority to issue its final decision on the Blazhiv field license award. The licensing authority has up to thirty days to approve the award of the license," Cadogan said in its statement Monday.
Cadogan shares closed 3.5% lower on Monday in London at 4.85 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Cadogan (CAD)