Holding(s) in Company

Cardinal Resources plc
01 February 2007



Holdings in Company

LONDON - Thursday, 1st February 2007

Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'the Company'), an independent
oil and gas production and exploration company operating in Ukraine, was today
notified that following a private sale at the market price on 31 December 2006
(18.5p) which only settled today, The Millennium Global High Yield Fund no
longer holds any shares in Cardinal and that Continental Capital SPC now has an
interest in 6,632,652 Cardinal Ordinary Shares representing 5.79% of the issued
Ordinary Share Capital of the Company. Jonathan Morley-Kirk who is a Director of
Continental Capital SPC and a Non-Executive Director of Cardinal has accordingly
notified the Company of a non beneficial interest in these shares, which
represents his entire interest in Cardinal Ordinary Shares.

                                       ###
For further information please contact:

Cardinal Resources                         Brunswick Group
Charles Green / Franziska Stahlknecht      Paul Scott
[phone]                       [phone]
[e-mail]         [e-mail]

Nominated Adviser
Nabarro Wells & Co. Limited
John Wilkes / Marc Cramsie
[phone]
[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.

                       ---------------------------------------------------------




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