CADOGAN PETROLEUM PLC
Agreement reached with GPS
Further to the announcement of 16 April, Cadogan Petroleum Plc is pleased to
confirm completion of the sale of the gas plants referred to therein, following
receipt in full of the agreed consideration of $29.5 million. In accordance
with the terms of the settlement documentation, the parties are now taking
appropriate steps to dismiss the legal proceedings commenced in England against
GPS and all other claims and liabilities have been released.
Cadogan Petroleum Plc +380 44 584 4979
Bertrand des Pallieres
Chief Executive Officer
Cantor Fitzgerald Europe +44 (0)20 7894 7000
David Porter
Richard Redmayne
Bankside Consultants +44 (0) 207 367 8888
Simon Rothschild