5th Jan 2011 09:17
5 January 2011
Cadogan Petroleum plc ("Cadogan" or the "Company")
Payment Received
In line with the settlement agreement entered into with Global Process Systems Inc ("GPS") in October 2009, Cadogan has received all payments due to date under that agreement totalling $7.5 million. This figure includes the $6.5 million that GPS advised would be paid by the end of the financial year. The remaining $30 million is due for payment by GPS during 2011 in accordance with the schedule agreed at the time of the settlement.
Enquiries
Cadogan Petroleum Plc | + 44 20 7245 0801 | |
Ian Baron, CEO Gordon Stein, CFO Stefan Bort, Company Secretary | ||
Matrix | +44 20 3206 7000 | |
Robin Henshall | ||
James Pope | ||
Bankside Consultants | +44 20 7367 8888 | |
Simon Rothschild |
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