Technical Service Agreements

CADOGAN PETROLEUM PLC - Technical Service Agreements

PR Newswire

London, February 24

Released: 24/02/2016

CADOGAN PETROLEUM PLC

Cadogan is pleased to announce that it has entered into separate technical service agreements with LLC “Brend-Vik LTD”, a Ukrainian geoscience consultancy firm, and GM&P a Milan based petroleum consultancy firm. These agreements are instrumental to pursuing Cadogan’s strategy of refocusing the E&P business on low cost, close-to-production targets, both in Ukraine and internationally. Guido Michelotti, Cadogan’s CEO commented “we are delighted to announce these partnerships as they supplement Cadogan’s skills with a wealth of experience in all segments of the E&P cycle. This experience will assist Cadogan’s management in re-assessing the existing Ukrainian portfolio while screening for opportunities, both in Ukraine and internationally, which will allow the company to grow and diversify its asset base”.

Notes:

Cadogan Petroleum plc ("Cadogan"), is an independent oil and gas exploration, development and production company with onshore gas, condensate and oil assets in Ukraine.

LLC “Brend-Vik LTD” (www.brend-vikltd.com) is a Ukrainian company highly experienced in geoscience and reservoir engineering which provides consultancy services primarily on exploration and project development studies. They have a highly experienced team which conjugates a deep knowledge of Ukrainian fields with the western standards and best practices.

GM&P (www.gaspetrolio.com) is a Milan based, petroleum company with significant experience of serving IOC’s and independent operators in the E&P business in a variety of petroleum provinces. The company was founded and is chaired by Mr G. Moscato, a former Chairman of ENI and provides a full spectrum of services in the E&P domain.

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