Cadogan Energy Solutions Plc · LSE:CAD

Cadogan Energy Solutions — Cadogan Petroleum — Shareholder Meeting (November 2009)

8 slides from Cadogan Energy Solutions's shareholder meeting presentation, Nov 12, 2009

  1. Slide 1: Cadogan Petroleum plc – AGM 2009

    Cadogan Petroleum plc – AGM 2009 Borynya 3 short duration drill stem test – June 2009 0

  2. Slide 2: Agenda

    AGENDA  2009 Overview  Past & Present  Licences  Strategy & Objectives  Options  Opportunity  Existing and new potential  Summary  Immediate next steps  Overview 1

  3. Slide 3: Cadogan Past & Present

    Cadogan Past & Present Beginning 2009 End 2009 No drilling rigs active 5 deep drilling rigs active Desk top evaluation & analysis 463 staff in dispersed locations Approximatly130 staff centralised in Kiev Traditional FSU operations team Integrated Ukrainian – Western team Applying traditional FSU op

  4. Slide 4: Current License Areas

    Current License Areas Pirkovskoe Zagoryanskoe Monastyretske Pokrovskoe Bitlyanska Mizhrichinska Cheremkhivskoe Malynovetske Sloboda Rungurske Debeslavetska Krasnoyilske Production Past Prod Exploration

  5. Slide 5: Strategy

    Strategy Cadogan now on solid ground, providing opportunity & options Potential for return of funds :  Currently preparing for return of funds, however  Legal process will take time  Staged recovery of future funds  Windup process costly Potential to build on existing base to create shareholder

  6. Slide 6: Opportunity – build on existing value components

    Opportunity – build on existing value components Create Value Listing & Organisation Licence Development Farm-out or Disposal Sale of materials Litigation, Settlement & Recovery Current Cash Position 5

  7. Slide 7: Immediate Next Steps

    Immediate Next Steps  Continue business restructuring & rationalization  Continued reduction in Opex / G&A  Disposal of non-strategic assets & surplus inventory  Complete assessment of data on main licenses  Initiate farm-out of interests  Continue legal action in Ukraine & UK  Secure resolut

  8. Slide 8: Conclusions

    Conclusions  Board & new management have stabilized Cadogan:  Future capex / opex tightly controlled & risks managed  Strong financial position providing opportunity  License issues – work in progress now better visibility  Realistic and significant potential upside  We will continue to explor

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