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    Energy minerals

  3. •

    Integrated oil
Cadogan Energy Solutions PLC

Cadogan Energy Solutions PLC

LLSE:CAD
4.00
GBX
0.00
(0.00%)
1.07BMarket Cap
Cadogan Energy Solutions PLC
LSE:CAD
(London Stock Exchange)

Recent

price

4.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
USD
0.02
0.03
0.02
0.02
0.14
0.33
0.09
0.07
0.06
0.02
0.02
0.04
32.54
0.03
0.04
0.02
- -
Revenue per Share
0.01
0.66
-0.4
-0.06
-0.26
-0.1
-0.03
-0.01
0.01
-0.01
- -
-0.02
-6
0.01
-0.03
- -
- -
Basic EPS, GAAP
-0.05
-0.2
-0.01
0.07
-0.1
- -
0.01
-0.01
-0.02
-0.05
- -
0.01
-3.71
- -
- -
-0.05
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.57
1.22
0.84
0.77
0.39
0.24
0.21
0.2
0.2
0.21
0.18
0.16
0.14
0.15
0.12
0.11
0.11
Book Value per Share
0.55
0.94
0.83
0.74
0.31
0.24
0.21
0.2
0.2
0.21
0.18
0.16
0.14
0.15
0.12
0.11
0.11
Tangible Book Value per Share
231
231
231
231
231
231
231
232
236
236
241
244
- -
244
244
250
251
Basic Weighted Avg Shares
5
7
4
4
33
75
20
15
15
6
5
9
8
8
9
6
- -
Sales/Revenue/Turnover
-34.23
-203.64
-165.46
-216.36
-11.17
-0.27
-23.07
-16.17
-14.78
-111.32
-62.62
-14.4
-4.7
-18.11
6.45
-45.17
- -
Operating Margin (%)
2
2
1
1
1
- -
- -
- -
- -
1
1
1
1
1
1
1
- -
Depreciation Expense
1
152
-93
-15
-59
-23
-6
-2
1
-2
-1
-5
-2
1
-6
-1
- -
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
26.22
2,170.88
-2,462.94
-388.65
-181.68
-30.83
-30.02
-10.47
8.28
-35.79
-19.51
-57.66
-18.44
16.68
-68.09
-19.61
- -
Profit Margin (%)
72
130
79
62
54
49
43
43
41
19
32
31
29
30
24
12
12
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5
5
LT Debt
131
283
196
177
90
55
48
46
48
50
45
40
36
36
29
28
28
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-1.73
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3.66
- -
- -
- -
Return on Capital (%)
0.98
73.05
-38.77
-7.88
-44.48
-32.24
-11.52
-3.37
2.6
-4.32
-2.11
-11.95
-4.14
3.51
-19.03
-3.97
- -
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
- -
- -
1
LT Borrowings
- -
- -
5
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
244
251
251
Market Capitalization
13
12
14

Working Capital

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
26
21
15
Cash, Cash Equivalents & STI
14
20
14
Accounts Receivable, Net
- -
- -
- -
Inventories
1
- -
- -
Total Current Liabilities
2
2
3
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
1
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-6.18%
-8.66%
-3.36%
Free Cash Flow
229.99%
392.21%
3,297.76%
Net Income, GAAP
-116.73%
-103.5%
-81.77%
Sales/Revenue/Turnover
-13.07%
8.44%
-36.71%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
8
2024
- -
- -
9
2025
- -
- -
6

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.01
2024
- -
- -
-0.03
2025
- -
- -
- -

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
Cadogan Energy Solutions PLC (formerly Cadogan Petroleum plc) engages in oil and gas exploration, development, and production primarily in Ukraine, alongside gas trading and energy services. The company produces natural gas, oil, and condensate from onshore assets including the Blazhiv field; conducts gas trading through imports from Slovakia, Hungary, and Poland, as well as local purchases and sales with physical delivery; and provides oilfield services such as workover operations and civil works. Operations center on Ukraine, with headquarters in London, United Kingdom, and the company founded in 2004. Cadogan focuses on key licenses like Blazhiv, where it conducts subsoil studies, hydrodynamic surveys, and reserve assessments per PRMS standards, alongside efforts to install 12.3 MW of power generation capacity across central and western Ukraine. It targets domestic customers, with sales concentrated among five main buyers, and maintains a robust balance sheet while pursuing farm-outs for Ukrainian investments and portfolio diversification. Recent developments include a 2023 extension of the lease agreement with PJSC Ukrnafta for Blazhiv-3 and Blazhiv-Monastyrets-3 wells to five years, securing production continuity; acquisition of a 5% share interest; achievement of over 1,720,000 man-hours without lost time incidents; and re-validation of ISO 14001 and 45001 certifications. In 2023, net oil production reached 119,057 barrels at an average 326 barrels per day despite wartime challenges, with ongoing monitoring of European and Ukrainian gas markets. A major shareholding change elevated Veronique Salik's stake to 24.36%, and the company continues arbitration related to a 2019 loan with Proger entities.