CDS Oil & Gas Group PLC
22 October 2007



                TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

CDS Oil and Gas plc

2. Reason for the notification (please place an X inside the appropriate bracket/s):

An acquisition or disposal of voting rights: ( x )

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (  )

An event changing the breakdown of voting rights: (  )

Other (please specify) : Change of issued share capital (  )

3. Full name of person(s) subject to the notification obligation:
   Petro-Saudi Ltd

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction (and date on which the threshold is crossed or
   reached if different):
   17 October 2007

6. Date on which issuer notified:
   18 October 2007

7. Threshold(s) that is/are crossed or reached: 
   > 3%

8. Notified details:


A: Voting rights attached to shares

Class/type of shares if possible         Situation previous to the Triggering transaction
using the ISIN CODE                       
                                         Number of shares      Number of voting Rights
                                                         
Ordinary Shares                              4,534,262                4,534,262
                                     

Resulting situation after the triggering transaction

Class/type of shares if possible         Number of shares      Number of voting rights        % of voting rights
using the ISIN CODE

                                             Direct           Direct         Indirect        Direct        Indirect

Ordinary Shares                                               8,296,530                      8,296,530


B: Financial Instruments
Resulting situation after the triggering transaction

Type of         Expiration Date    Exercise/Conversion      Number of voting rights that may      % of voting rights
financial                          Period/ Date             be acquired if the instrument is  
instrument                                                  exercised/converted.
                                      
                 
Total (A+B)
Number of voting       % of voting
rights                 rights

8,296,530              8.16%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable :

Proxy Voting:

10. Name of the proxy holder:
.................

11. Number of voting rights proxy holder will cease to hold:
.................

12. Date on which proxy holder will cease to hold voting rights:
.................

13. Additional information:
.................

14. Contact name:

    Christopher Caldwell
    Insinger de Beaufort

    Patrice Roman
    CDS Oil and Gas

15. Contact telephone number:

    +44 20 7190 7000
    +41 22 700 6860



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