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Cadogan Petroleum applies for 20-year production licence at Monastyretska

"This is an important step towards stabilising the future of our company in Ukraine," said chief executive Guido Michelotti.

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The application was filed well ahead of deadline

Cadogan Petroleum PLC (LON:CAD) has filed an application for a 20-year production licence in the Monastyretska exploration area in Ukraine.

The production license, called the Blazhiv field, was filed with the State Geological Services of Ukraine nearly five months before the current exploration license expires in November.

"This is an important step towards stabilising the future of our company in Ukraine," said chief executive Guido Michelotti.

"We have filed the application well ahead of the deadline in order to allow sufficient time for a seamless transition between the exploration and the production licenses."

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