Press Release
22 November 2022
This announcement contains inside information as defined under
the Market Abuse Regulations n. 596/2014
Cadogan Petroleum
plc (changing to Cadogan Energy Solutions Plc)
(“Cadogan” or the
“Company”)
Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange
listed independent energy company is pleased to provide the
following operational update.
All of our employees are safe. The Company continues to daily
monitor the situation and take the appropriate actions to ensure
their safety and their essential needs.
After the decision of the Supreme Court in Kiev in favor of the position defended by the
Company, the litigation case with the Tax Administration has been
ended. This will not have any financial impact on the 2022 accounts
as the successful outcome was anticipated in the 2020 and 2021
annual accounts.
The Company continued defending its positions for the 20-year
Bitlyanska gas license and filed a claim at the Cassation Court.
The projects for gas exploration and production developed by our
subsidiary Exploenergy in Italy
(90% Cadogan) are included in the eligible areas identified by the
Plan for Sustainable Energy Transition in Eligible Areas (PITESAI).
The administrative process is ongoing.
ENDS
About
Cadogan is an independent, energy company, which operates
exploration and production licenses in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies. The aim of
the Company is to be a diversified energy group making investments
offering energy solutions and alternative services with a lower
environmental impact.
For further information, please
contact:
Cadogan Petroleum plc
Fady Khallouf
Chief Executive Officer
fady.khallouf@cadoganpetroleum.com
Ben Harber
Company Secretary
+44 0207 264 4366
