Changes to Board and Executive Management

Cadogan Petroleum Plc - Changes to Board and Executive Management

PR Newswire

London, May 2

Cadogan Petroleum PLC(the Company)

Changes to Board and Executive Management

The Company announces that Bertrand des Pallieres has today resigned as a Director and Chief Trading Officer of the Company with immediate effect, to pursue other roles outside the oil and gas industry.

Bertrand des Pallieres has been an Executive Director of the Company since August 2011. Initially serving as CEO, he played a key role in restructuring the Board and management of the Company, in negotiating the partnership with eni and in concluding proceedings for the recovery of substantial sums due to the Company.

The Board thanks Mr des Pallieres for his contribution to the Company and wishes him well in his future endeavours.

For further information, please contact:

Cadogan Petroleum Plc +380 (44) 594 5870Guido MichelottiChief Executive Officer

Cantor Fitzgerald Europe +44 (0) 20 7894 7000David Porter