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22 Jul 2008 07:04
ļ»æ
22Ā July 2008
CADOGAN PETROLEUM PLC
("Cadogan" or the "Company")
RESPONSE TO PRESS SPECULATION
CadoganĀ (LSE: CAD)Ā notes the recent press speculation in the Ukrainian mediaĀ concerning an alleged rulingĀ from a UkrainianĀ localĀ courtĀ in favour of a subsidiary of Nadra Ukraine which calls into questionĀ theĀ validity of theĀ Company's Pirkovskoe andĀ ZagoryanskaĀ licences. Cadogan has not been notified of any issues concerning these licences. Cadogan wasĀ neitherĀ aware of,Ā nor party to,Ā the reported Ukrainian court proceedingsĀ and has received no notification of any suchĀ proceedingsĀ orĀ ruling from any relevant authority.
Cadogan is not aware of any grounds upon which claimsĀ seeking to contest its title to the relevant assetsĀ can be made. CadoganĀ is fully confident in its title to the assets concerned and would contest vigorously any claim to the contrary. Joint Venture operations with NadraĀ UkraineĀ are continuing as normal.
The Company is investigating theĀ situation as aĀ matterĀ of utmost importance. InĀ theĀ light of these circumstances, the Company has requestedĀ theĀ temporary suspension of dealings in its shares untilĀ the status of the allegedĀ court rulingĀ has been established.Ā
A further announcement will be made in due course.
Enquiries:
|
Cadogan Petroleum |
+44 20Ā 7245 0801 |
|
Mark Tolley |
Ā |
|
Peter Biddlestone Ā |
Ā |
|
Pelham PR |
Ā |
|
James Henderson |
+44 20 7743 6673 |
|
Alisdair Haythornthwaite |
+44 20 7743 6676 |
|
Evgeniy Chuikov |
+44 20 3008 5506 |
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