Cadogan Energy Provides Update in Ukraine

Cadogan Energy Solutions plc (“Cadogan”), the London Stock Exchange listed independent energy company is pleased to provide the following update.

PJSC Ukrnafta, the largest oil company in Ukraine, and Cadogan have signed the extension of Blazhiv-3 and Blazhiv-Monastyrets-3 wells lease contracts for a 5-year period. The signature of this lease extension ahead the expiry period will allow to avoid a production stoppage and to secure profit inflows for both parties during this unprecedented, severe and challenging context which Ukraine is facing now.

This was possible thanks to the solid professional cooperation between the parties during the past term and the proactive and constructive approach of PJSC Ukrnafta under the leadership of its management during the extension award process