Last checked at 12 Oct 2009 13:54
12 October 2009
Cadogan Petroleum PLC
("Cadogan" or the "Company")
Licence Developments
Further to the announcements on 18 September 2009 and earlier today, Cadogan has now received a letter from the Ministry for the Protection of the Environment (the "Ministry") confirming the Company's rights to the special permits and licence interests with respect to Pirkovskoe, Zagoryanska, Bitlyanska, Monastyretske and Krasnoyilske (the "special permits").
The Ministry has confirmed that there are no grounds for invalidation or annulment, or any doubts as to the validity of the special permits. The Ministry has also confirmed the exclusive rights of Cadogan for exploration, research and commercial development of these fields.
In light of this letter, the Company will seek a swift resolution of the previous indirect legal challenges to the Pirkovskoe and Zagoryanska special permits.
Enquiries:
| Cadogan Petroleum | +44 20 7245 0801 |
| Ian Baron Stefan Bort | |
| Pelham PR | |
| James Henderson | +44 20 7337 1501 |
| Evgeniy Chuikov | +44 20 7337 1513 |
| Phillip Dennis | +44 20 7337 1516 |