Cadogan Petroleum plc, an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, announces that for temporary internal procedural reasons the licensing authority in Ukraine, the SGS, has not been able to provide final approval for the 20-years production license for Monastyretska.

All intermediate approvals for the production license, including that of the regional Council of L’viv, had been secured in due time. The exploration licenses for Monastyretska has expired at midnight on the 18th November.

In the intervening period, the Company has started preparing the field and the wells for a temporary suspension of its production operations, which cannot continue without a valid permit. Suspension is not expected to last long and the company is ready to resume production as soon as the license is awarded.

Link to Cadogan Petroleum Ukraine country profile