Cadogan Petroleum Plc - Directorate Change

Press Release                                                                                                                                    18 July 2019
This announcement is deemed to contain Inside Information as defined under the Market Abuse Regulations n. 596/2014

Cadogan Petroleum Plc
(“Cadogan” or the “Company”)

Directorate change

Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, announces that Guido Michelotti has submitted to the Board of Directors his resignation as Chief Executive Officer after four years in this role.

Mr Michelotti’s resignation is motivated by personal reasons and will become effective at the end  of September 2019,  after the release of the Half Year report.  Mr Michelotti will remain as executive director until November 15 in order to secure an orderly transition with the new Chief Executive Officer, while completing some activities started under his leadership.

The Board of Directors will begin the search for a new CEO and appreciates that Guido Michelotti has agreed to assist in the transition. An announcement on the appointment of the new CEO will be made in due course.

Zev Furst, Chairman, on behalf of the Board, wishes to thank Guido Michelotti for his leadership during a challenging time and for his contribution to a successful transformation of Cadogan, which has now a solid foundation on which to build its future.

-ENDS-

For further information, please contact:

Cadogan Petroleum plc
Guido Michelotti	Chief Executive Officer	[phone]
Ben Harber	Company Secretary	[phone]
Cantor Fitzgerald Europe	Broker to Cadogan Petroleum plc
David Porter		[phone]

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