British Cadogan Petroleum Plc with assets in Ukraine in 2019 saw $2.102 million of net loss compared with $1.2 million of net profit in 2018, the company has reported on the website of the London Stock Exchange (LSE) on Monday.
According to the report, operating loss was $2.127 million compared with operating profit of $0.403 million in 2018. Gross revenues fell by 60%, to $5.9 million.
Cadogan Petroleum Plc with assets in Ukraine has increased oil production at the Monastyretske field (Lviv region) 2.5-fold, to 225 barrels per day (bpd) thanks to the work-over on three wells, the company has reported on the website of the London Stock Exchange (LSE).
Under the programme, the work-over was carried out at Blazh 1, Blazh 3 and Blazh-Mon 3 wells.
Cadogan is an independent oil and gas company which operates exploration and production licenses in western Ukraine.
