Holdings in Company

Cardinal Resources plc
23 March 2007



LONDON - Friday, 23rd March 2007

Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'the Company'), an independent
oil and gas exploration and production company operating in Ukraine, was
notified yesterday by Torch Energy Advisors Incorporated that they have an
interest in 3,698,860 of the Company's ordinary 20p shares ('Ordinary Shares')
representing 3.23 per cent. of the issued Ordinary Share capital of the Company.

This notification was made pursuant to DTR Transitional Provision 7 of the
Disclosureand Transparency Rules published by the FSA.

For further information please contact:

Cardinal Resources                      Brunswick Group
Charles Green / Natalia Egorova         Paul Scott
[phone]                    [phone]
[e-mail]      [e-mail]

Nominated Adviser
Nabarro Wells & Co. Limited
John Wilkes
[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.

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