Resumption of Production

Cadogan Petroleum Plc - Resumption of Production

PR Newswire

London, June 21

Press Release 22nd June 2020

This announcement contains inside information as defined under the Market Abuse Regulations n. 596/2014

Cadogan Petroleum Plc("Cadogan" or the "Company")

Resumption of production from Blazhiv-3 and Blazhiv-3-Monastyrets.

Operational update

As anticipated in the 2019 Annual Report, Cadogan Petroleum plc and Ukrnafta have signed on June 18th, 2020 the two lease contracts’ prolongation for the wells of Blazhiv-3 and Blazhiv-3-Monastyrets. The Company is pleased to announce the resumption of production from these two wells. The wells were shut down since November 2019.

-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.

Ukrnafta is the largest oil company in Ukraine, with 62,3% share of the country’s oil and condensate production. Ukrnafta operate 85 licences and own a fleet of 24 drilling rigs.

For further information, please contact:

Cadogan Petroleum plcFady Khallouf Chief Executive Officer fady.khallouf@cadoganpetroleum.comBen Harber Company Secretary +44 0207 264 4366

Cantor Fitzgerald Europe Broker to Cadogan Petroleum plc

David Porter +44 (0) 20 7894 7000