Cadogan Petroleum and Global Process Systems (GPS) have reached an agreement concerning the purchase of two gas processing plants by GPS for 29.5m dollars.
Upon Cadogan's receipt of the sale price, the agreement will represent a full and final settlement of all claims and liabilities between them.
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Cadogan is an independent oil and gas exploration, development and production company with onshore gas and condensate assets in the Ukraine.
Its share price was up 13.27% to 16p at 08:35 on Tuesday.
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