Cadogan Petroleum Stuck with Pokroskvoe – ENI Decline Option and Running String Unrecovered
Cadogan reports having been advised by Eni S.p.A that, after analysis of the results for the Pokroskvoe 1 and Pokroskvoe 2a wells, Eni do not intend to exercise their option to acquire a further 30% of the share capital of Pokroskvoe Petroleum BV. The option formed part of the transaction …