Minor Fields
In Western Ukraine, Cadogan owns exploration, development and production licences either directly or through subsidiaries or joint ventures. The Minor Fields in western Ukraine include the only four fields currently in commercial production (Monastyretske, Debeslavetska, Cheremkhivskoe and Slobodo-Rungerske). The Group plans to focus on geological studies, fulfilling its licence obligations and reviewing development programmes for each of the Minor Fields. The current intention is that capital expenditure on the Minor Fields will be phased in when such expenditure can be funded primarily from revenue generated by the Major Fields.
