Cadogan Petroleum Publication of Report on Payments to Governments

 
TIDMCAD 
 
15 September 2016 
 
                     Cadogan Petroleum plc (the "Company") 
 
                Consolidated report on payments to governments 
 
Cadogan Petroleum plc presents below its consolidated report on payments to 
governments for the year ended 31 December 2015, for activities related to 
exploration, development and extraction of oil and gas resources.The report has 
been prepared in accordance with DTR 4.3A of the Financial Conduct Authority 
Disclosure and Transparency Rules and in compliance with the Reports on 
Payments to Governments Regulations 2014 (SI 2014/3209), as amended by the 
Reports on Payments to Governments (Amendment) Regulations 2015 (SI 2015/1928). 
 
Payment types are disclosed at the level of operational activities governed by 
a single contract, license or similar legal agreements and form the basis for 
payment liabilities with a government. The payments are presented on a cash 
basis, and do not contain interests and penalties on late tax payments or on 
underpaid tax as all payments were made in due time There were no payments in 
kind made to a Government during the year. 
 
For the year ended 31 December 2015 the Group disclosed in the report 
production taxes which are payments to governments in relation to revenue or 
production generated under license agreements. 
 
Taxes levied on consumption such as value added taxes, personal income taxes, 
sales taxes, property and environmental taxes have not been included in this 
report. 
 
Payments to government below the threshold of GBP86 thousand ($131 thousand based 
on average exchange rate for the year) were excluded from the report as 
permitted by the regulations. 
 
In the year ended 31 December 2015 the Group operated only in Ukraine, so there 
were payments only made to Ukrainian government. 
 
Payments summary 
 
Payments to governments made during the year ended 31 December 2015: 
 
                                              Production taxes          Total 
 
Ukrainian government                                     $'000          $'000 
 
State treasury: State budget                             1,205          1,205 
 
Total                                                    1,205          1,205 
 
Payments to governments by project type made during the year ended 31 
December 2015: 
 
                                              Production taxes          Total 
 
                                                         $'000          $'000 
 
Ukraine 
 
Debeslavetska Production license area                      765            765 
 
Monastyretska license area                                 241            241 
 
Cheremkhivska Production license area                      193            193 
 
Slobodo-Rungurska license area                               5              5 
 
Total                                                    1,205          1,205 
 
Cadogan Petroleum plc                                              +380 (44) 
594 5870 
Guido Michelotti, Chief Executive Officer 
Marta Halabala, Company Secretary 
 
 
Cantor Fitzgerald Europe                                            +44 (0) 20 
7894 7000 
David Porter 
Sarah Wharry 
 
 
 
END 
 

(END) Dow Jones Newswires

September 15, 2016 07:22 ET (11:22 GMT)