small oilie but with a nav of 35p compared to share price of 10p..bid rumours of 50p a share.

lol.. yes ta!! sold out at 42 at mo but holding fast to rrl...gla

Looking great as usual.

Anyone know what's causing the recent surge.

Anyone?

Not me.

Matrix say buy and 112p target.

Break out

nice update though wasted in this dog market. Longer term CAD should be a great recovery play for 230p ipo.

before the stockmarket rout as well:


Buy cadogan Petroleum at 52p
by Lucian Miers, East Londons most feared short seller
You dont have to be a genius right now to notice spot that oilers who ply their trade away from the Middle East are in demand. Choosing the right ones to invest in, however, is not so easy , as the sector varies hugely in quality. Still, I have given it a go and come up with two that I like and believe will reward investors. The larger one I will address next week, the smaller is cadogan Petroleum (CAD), price 52p market cap 120 million)
cadogan, an oil and gas exploration company with assets solely in the Ukraine, was floated in June of 2008 by UBS at 230p in what, with the benefit of hindsight, was one of the most disastrous and ill conceived IPOs of recent times. 145 million was raised, valuing the company at 530 million and an extensive drilling programme was commenced. A matter of weeks later the shares were temporarily suspended as litigation commenced over the ownership of three key licences. A year later the entire executive board departed as allegations of improper use of the companys money surfaced and within two years CADs shares had lost 93% of their value (the low was around 13p in April last year). By then the company had galloped through around 100 million of its cash and announced disappointing drilling results in three of its Eastern Ukraine prospects. It then had to delay the release of its 2009 accounts as the previous year was restated. CAD was another wild east fiasco and its reputation was in tatters.
Recently, however, the situation has improved and the shares have recovered to 52p, a 52 week high (but still only 22% of the 2008 IPO price). The dispute over the licences has been settled in CADs favour: money has been recovered from the former chief executive and $30 million is receivable this year to settle a dispute relating to the sale of two gas plants commissioned by CAD. This is in addition to net cash of 26.4 million on the books in August last year.
CAD is now producing enough gas to cover general and administrative overheads and has a number of opportunities in the pipeline. Ian Barron the Chief Executive who has dug CAD out of its mess on a consultancy basis has signed a proper employment contract and 29% shareholder Shon Invest SA is supportive. I am told that the worst days of attempting to do business in the Ukraine are over and that things are improving out there. If this is,and continues to be the case then cadogans shares should continue their rise. I have bought with a target price of 115p, half the price of the 2008 IPO.
Posted by Lucian Miers on Apr 8, 05:12 PM in Comment

pretty decent source. Cad and ENI on the verge of announcing a very large shale gas project in the Ukraine. Already announced in recent rns they are looking at co-operating on projects. Expect news soon, Chevron may well be involved.

tieing in with a possible announcement we have housebroker MATRIX on the bid and funnily enough furthest down the offer, get my drift? Ladies and gentlemen get ready.

Break out at last on great news.

wait till the next news hits the wires these will do 60% in a day.

Will do ronny.

Massive news just out of Ukraine

Shell paying $800m for shale gas hunt in Estern Ukraine:

http://www.upstreamonline.com/sectors/explorationproduction/article275643.ece

News out, could be worth a punt >>>>>>>>>>


Cadogan Petroleum awarded $21m in High Court ruling

Cadogan Petroleum said the High Court in London has awarded it $21 million, inclusive of interest, relating to its litigation against Global Process Systems.

The money was to be paid by March 4, Cadogan said. If not paid by that date, interest would accrue at a rate of 8% a year, or $4,600 a day, Cadogan said

The court dismissed a counterclaim from Global Process Systems for about $7.5 million.

At the request of the company, a decision by the court on further damages estimated at about up to $10.5 million has been adjourned pending sale of the plants.

"In the meantime the Company continues to retain legal title to the plants and will allow GPS to continue marketing these on a non-exclusive basis," it said.

GPS has also been ordered to pay the Company's legal costs relating to the Judgment Debt and 50% of the costs of trial. All other costs issues are reserved to the resumption of the adjourned hearing for the balance of damages, Cadogan said.

Mr Justice Eder turned down the application of GPS for permission to appeal his judgment. GPS could renew its application for permission to appeal with the Court of Appeal, Cadogan said

From "iii" poster - reply to my concern at the recent drop.>>>>>>>>>>>


Thank you for your email of 23 January, we note your concerns stemming from a frustration that we all share given the somewhat disappointing results in 2012. The share price of the Company, as you will appreciate, is not under our control but we do not feel it is an accurate reflection of the resilience of the Company, the strength of our balance sheet or the dedication and professionalism of our hard-working team. Nor, we feel, is it reflective of the current and future potential of the Company.

Broadly speaking the company has made progress over the past year although the results of the drilling campaigns undertaken (as already reported) have not been as positive as hoped. We can assure you that the Board is committed to making a success of the Company. We remain confident that we have the right team in place, all of them working hard, to ensure this commitment is fulfilled. We will announce any developments in line with our disclosure obligations to all shareholders and will endeavour to be more communicative going forward.

I hopes this goes some way to reassuring you and addressing your valid concerns.

Kind Regards
Cadogan Petroleum Plc

Eni, Cadogan could sink first shale gas prospecting well in Ukraine in 2013
26th Feb
http://www.directorstalk.com/eni-cadogan-could-sink-first-shale-gas-prospecting-well-in-ukraine-in-2013/