Change of Adviser

Cadogan Petroleum PLC ("the Company" or "Cadogan")

Broker

As a consequence of Matrix Corporate Capital LLP's decision to withdraw from
its broking business, they no longer represent the Company. Cadogan expects to
announce a new appointment as the Company's financial adviser and broker
shortly.

Ends

Enquiries

Cadogan Petroleum plc              [phone]    
                                                       
Stefan Bort, Company Secretary                         

Bankside                                               
                                                       
Simon Rothschild                   [phone]