Resumption of Production

Press Release                                                                                                                                    22^ndJune 2020

This announcement contains inside information as defined under the Market Abuse Regulations n. 596/2014

Cadogan Petroleum Plc
("Cadogan" or the "Company")

Resumption of production from Blazhiv-3 and Blazhiv-3-Monastyrets.

Operational update

As anticipated in the 2019 Annual Report, Cadogan Petroleum plc and Ukrnafta have signed on June 18^th, 2020 the two lease contracts’ prolongation for the wells of Blazhiv-3 and Blazhiv-3-Monastyrets. The Company is pleased to announce the resumption of production from these two wells. The wells were shut down since November 2019.

-ENDS-

About

Cadogan is an independent, diversified oil and gas company, which operates exploration and production licenses in Western Ukraine, conducts gas trading operations, and provides services to E&P companies.

Ukrnafta is the largest oil company in Ukraine, with 62,3% share of the country’s oil and condensate production. Ukrnafta operate 85 licences and own a fleet of 24 drilling rigs.

For further information, please contact:

Cadogan Petroleum plc
Fady Khallouf                              Chief Executive Officer          [email protected]
Ben Harber                                  Company Secretary                +44 0207 264 4366

Cantor Fitzgerald Europe      Broker to Cadogan Petroleum plc

David Porter                                                                                       +44 (0) 20 7894 7000