Appointment of New Broker

Cardinal Resources plc
06 April 2006


CARDINAL RESOURCES PLC APPOINTS ALFA CAPITAL MARKETS AS NEW BROKER

LONDON - Thursday, 6th April 2006

Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'The Company'), an independent
oil and gas production and exploration company operating in Ukraine, announces
that it has appointed Alfa Capital Markets as its broker, effective today.

'I'm pleased to welcome Alfa as Cardinal's new corporate broker,' said Robert J.
Bensh, Cardinal's Chairman and Chief Executive Officer. 'As one of the largest
banks in Ukraine, Alfa has considerable experience and local presence that will
greatly assist Cardinal in its goal to become the leading independent oil and
gas producer in the region.'

Simon Roache, Chief Executive Officer of Alfa Capital Markets commented, 'I am
delighted to announce Cardinal Resources as Alfa's first UK nominated broker
client. Our dedicated sales and research teams in London are eager to introduce
Cardinal to our broad range of institutional clients and support them in
fulfilling their capital markets objectives.'

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For further information please contact:

Cardinal Resources                                Alfa Capital Markets
Kate Spiro                                        Simon Roache
[phone]                              [phone]
[e-mail]                            [e-mail]

Notes to Editor

Cardinal Resources plc
Cardinal Resources plc is an independent oil and gas production and exploration
company with assets in Ukraine. Cardinal is an experienced operator in the
country focused on expanding its existing operations through the farm-in or
acquisition of additional upstream oil and gas assets that can be further
developed through the application of modern technology and expertise.


Alfa-Bank
Alfa-Bank is one of Russia's largest privately-owned banks, present in every key
sector of the financial services industry. Alfa Capital Markets is the
FSA-registered London arm of Alfa-Bank's international investment banking
business and the only subsidiary of a major Russian/Ukrainian banking group to
be represented in London. The London office serves an international,
institutional client base and provides a unique insight into the Russian and CIS
capital markets. Brokerage and trading are provided by an experienced team of
over a dozen professionals. A dedicated London-based research team contributes
to Alfa-Bank's broader research effort.


                      This information is provided by RNS
            The company news service from the London Stock Exchange