This announcement is deemed to contain Inside
Information as defined under the Market Abuse Regulations
n. 596/2014 |
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Cadogan Petroleum Plc
(“Cadogan” or the “Company”)
Successful Stimulation of
the
Blazh-1 well Increases
Production
Cadogan Petroleum plc (“Cadogan”), an independent, oil & gas
company listed on the London Stock Exchange, is pleased to announce
that production from the Blazh-1 well on the Monastyretska field
has nearly doubled to 63 bpd following the
successful completion of a work-over to stimulate the well.
The Blazh-1 well is being monitored as part of a reservoir
surveillance program aimed at optimizing the performance of the
entire field. As a result of this stimulation, Cadogan’s current
production (oil and gas combined) has increased
to 219 boepd (205 boepd net to Cadogan).
The team and the equipment have been relocated to the Blazh-3
well to execute a work-over and chemical treatment. This operation
is scheduled to be completed in approximately four weeks.
The Monastyretska field is located in the Lviv region of
Western Ukraine. Oil produced from
the field has a negligible gas and water content, is treated
locally and exported by truck by the buyers. The Group holds a 100
per cent working interest in the license.
-ENDS-
About
Cadogan is an independent oil and gas company. Cadogan operates
exploration and production licenses in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies.
For further information, please
contact:
Cadogan Petroleum plc |
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Guido Michelotti |
Chief Executive Officer |
+380 (44) 594 5870 |
Ben Harber |
Company Secretary |
+44 0207 264 4366 |
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Cantor Fitzgerald Europe |
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David Porter |
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+44 (0) 20 7894 7000 |
Nick Tulloch |
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