Cadogan Petroleum plc provided operational update. Exit net production in December was 274 boepd. Net production for 2018 averaged 250 boepd, which is approximately 25% above the production target announced for the year and 61% higher than the average production in 2017. The net average 2018 production result is despite the Cheremkhivske gas field being shut-down in May, due to the award of the extension of the production license being delayed. The increase in 2018 production was again delivered in an incident free working environment and with a further reduction of emissions into the atmosphere. Emissions reduced from 24.1 tons of CO2,equiv/boe in 2017 to approximately 16.2 CO2,equiv/boe in 2018. In absolute terms, 2017 emissions were exceeded by only 118 tons of CO2,equiv, notwithstanding the 61% increase in production and the resumption of drilling operations. The Blazh-10 well on the Monastyretska license spudded in early January 2019 and drilling is ongoing; the first casing has already been set at about 400 meters depth. Spudding of the well occurred later than expected due to an extended test program at the rig’s previous location in Poland. The Blazh-10 well is targeting the Yamna sandstones, which is the reservoir of the three producing wells on the license, at a depth of approximately 3,500 meters. The well is anticipated to take approximately three months to drill and fulfills the remaining license commitment, with the commitment for pilot test production already met.