Cadogan Petroleum notes the absence of a significant influence of the extraction tax increase on its financial status.

The Cadogan Petroleum Plc company (the United Kingdom) stated that the oil and gas extraction tax increase does not significantly affect the financial condition or the work program of the company, the statement of the company informs.

The report states that Cadogan Petroleum will continue to evaluate the impact of the changes in fiscal policy and adopt such financial and operational measures that it deems necessary to protect the interests of the company and its shareholders.

The company also reported that drilling a new well on the Debeslavetsk field (the Ivano-Frankivsk region), previously scheduled for the end of September, was postponed till November due to the double-check of the drilling coordinates.