8th Nov 2018 10:48
Cadogan Petroleum Plc - Well UpdateCadogan Petroleum Plc - Well Update
PR Newswire
London, November 8
| Press Release 8 November 2018 |
| This announcement is deemed to contain Inside Information as defined under the Market Abuse Regulations n. 596/2014 |
Cadogan Petroleum Plc.
(“Cadogan” or the “Company”)
Well Update
Cadogan Petroleum plc. (“Cadogan”), an independent, diversified, oil & gas company listed on the London Stock Exchange, announces the Vovche-2 well reached the planned total depth and was completed on time and budget.
Both pre-drill target horizons were penetrated and resulted oil bearing from logs. Oil saturation in the lower target was further confirmed by cores. A third, thinner interval, appears as potentially oil bearing from logs.
The well has been cased and is being tested to establish whether it is capable of sustaining commercial production rates.
The results of the well tests will be communicated in due course.
-ENDS-
For further information, please contact:
| Cadogan Petroleum plc. | ||
| Guido Michelotti | Chief Executive Officer | +380 (44) 594 5870 |
| Ben Harber | Company Secretary | +44 0207 264 4366 |
| Cantor Fitzgerald Europe | ||
| David Porter Nick Tulloch | +44 (0) 20 7894 7000 |
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