Loan to Proger Managers & Partners srl

Cadogan Petroleum Plc - Loan to Proger Managers & Partners srl

PR Newswire

London, February 26

1st March 2021

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

Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange listed independent oil and gas company, reports that it has notified the Borrower, Proger Managers & Partners srl (“PMP”), that according to the Loan Agreement the Maturity Date occurred on Thursday 25 February 2021.

Cadogan did not exercise its Call Option Right within the Maturity Date.

PMP must fulfill the payment of Euro 14,857,350.00 being reimbursement of the Loan in terms of principal and the interest accrued to date, within the next five business days.

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.