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15 Jan 2009 07:00
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15Β January 2009
Cadogan Petroleum plcΒ
("Cadogan")Β
Licence Update
Cadogan today provides anΒ update regarding its Zagoryanska special permit ("Licence").
The Ministry ofΒ Environment ofΒ UkraineΒ has issued an extension toΒ LicenceΒ #3108Β for the Zagoryanska area to Cadogan. ThisΒ Exploration & DevelopmentΒ licenceΒ has now been extended by 5 years to April 24thΒ 2014.Β
The required work programme includes, i) the acquisition of 3D seismic data across the field which will be completed in 1Q 2009, ii) the testing of well #3 which is currently in progress, iii) the workover of well #2 which is already included in the 2009 work programme, and iv) the drilling of an appraisal well. The final conclusion of the work programme is not required to be completed before the end of theΒ licenceΒ period in April 2014.
Mark Tolley, Chief Executive commented:
"We are very pleased with theΒ extension of thisΒ licenceΒ which indicates the full support of the Ministry of Environment in our plans for the long term appraisal and development of thisΒ licenceΒ area. At any time during the term of thisΒ licence,Β as soon as the workΒ programme has been successfully completed, Cadogan willΒ aim toΒ convert thisΒ licenceΒ to a long term ProductionΒ Licence".Β
Enquiries:
|
Cadogan Petroleum |
+44 20 7245 0801 |
|
Mark Tolley |
|
|
Peter Biddlestone |
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|
Pelham PR |
|
|
JamesΒ Henderson |
+44 20 7743 6673 |
|
Alisdair Haythornthwaite |
+44 20 7743 6676 |
|
Evgeniy Chuikov |
+44 20 3008 5506 |
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