Cadogan Petroleum publishes 2008 preliminary results

Yesterday Cadogan Petroleum (CAD LN) released its 2008 preliminary results. The company recorded a loss before tax of GBP 22.8 mln (vs. GBP 15.0 mln in 2007), and revenue of GBP 1.8 mln (vs. GBP 0.7 mln in 2007). Cadogan increased its capital investments last year by 84.2% yoy to GBP 74.6 mln and its total proved plus probable reserves base to 83 mln mmboe (vs. 80.4 mmboe in 2007). The company’s complete annual financial report is available on its website: www.cadoganpetroleum.com.