Cadogan: New exploration potential discovered on multiple licences
Oil and gas exploration company Cadogan Petroleum has identified new and economically viable exploration and production potential at most of its existing licences, an operational update has shown.
Oil and gas exploration company Cadogan Petroleum has identified new and economically viable exploration and production potential at most of its existing licences, an operational update has shown.
The company, which has onshore gas and condensate assets in the Ukraine, reported that it had applied seismic reprocessing technology to better understand its existing exploration opportunities.
It reported that the efforts had proven successful in Pokrokovska, helping to identify three shallow depth prospects, two mid-depth prospects and three deep prospects.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the West of Ukraine, the company reported that three shallow leads had also been identified within the Debeslavetska licence.
A sucker rod pump was installed at the company's Blazhiv well, also in the West of Ukraine, which showed "positive results".
The company said: "In general, the identified objectives are gas and oil bearing and belong to shallow, medium and deep horizons. New, promising areas for investment are already under scrutiny and the company will report on these in due course."
Cadogan's share price was down 3.70% to 13p at 09:44 on Thursday.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
RICS: homebuyers are returning after stamp duty shock
The housing market has been subdued since stamp duty thresholds dropped in April, but there are signs of a recovery
-
Reducing cash ISA limit will make lending difficult and expensive, warn providers
An open letter from the Building Societies Association has urged the chancellor to keep the cash ISA limit at £20,000. We look at whether a smaller cash ISA allowance will make it harder to get a mortgage or loan