Cadogan Petroleum Plc

Transaction Type
Sellers
Marketers
Basin
Carpathian, Dnieper Donets Basin
Field
Bitlyanska, Pokrovskoe, Pirkovskoe, Zagoryanska
Post Date
Estimated Price
MM
Description

Cadogan Petroleum Plc has retained IndigoPool to farm out assets in the Ukraine.

The package involves the Bitlyanska exploration license in the relatively unexplored Carpathian thrust belt in western Ukraine, near the border with Poland. It is estimated to contain 2C resources of up to 1.5 trillion cubic feet and 40 million barrels of condensate.

The Pokrovskoe, Pirkovskoe and Zagoryanska exploration licenses are in the Dnieper Donets Basin in eastern Ukraine and are in various stages of exploration, appraisal and development. The estimated recoverable resource potential in Cadogan's eastern Ukraine licenses are up to 1.2 Tcf and 70 million barrels of condensate.

The work program for Bitlyanska includes three exploration wells and a seismic program by December 2014. In the eastern blocks, Cadogan has compiled an aggressive 2010 work program to verify the potential of the discoveries, to test production options, and to continue with the evaluation of their low-risk, high-potential acreage position.

Contact Les Finalle, 713-689-5860, lfinalle@indigopool.com.