Cadogan Petroleum will start drilling at the Debeslavetsky site in the Ukraine

The British Cadogan Petroleum will start drilling of a new well at the Debeslavetsky site of the Lvov basin in the Ukraine by the end of September. Drilling will last up to 10 days and they’ll need up to 3 weeks for testing and completion of the work. The awaited debit is from 4 million cubic feet. Cadogan defined 4 perspective locations for well drilling at the site. If the first drilling is successful, then the company will start the work at one more location before the end of 2014.

Сadogan Petroleum was founded in October 2004 by the private investors for the realization of the oil and gas projects in the CIS. In June 2010, the American SAE Capital Holdings S.A. became the majority shareholder of Cadogan having purchased 29.12% of its shares. In November, the British Lloyds Banking Group plc. concentrated 9.06% in Cadogan. In April 2011, Kellet Overseas Inc. concentrated 8.12% in Cadogan.