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Broker As a consequence of Matrix Corporate Capital LLP's decision to withdraw from its broking business, they no longer represent the Company.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 +44 20 7487 8301 Stefan Bort, Company Secretary Bankside Simon Rothschild +44 20 7367 8888