SOURCE: CARDINAL RESOURCES PLC

September 29, 2005 07:28 ET

CARDINAL RESOURCES PLC ANNOUNCEMENT

LONDON -- (MARKET WIRE) -- September 29, 2005 --


Cardinal Resources plc (AIM:CDL), an independent oil and gas exploration and production company, today announces that it is in discussions to acquire assets to complement existing interests in Ukraine. The company will make further announcements if appropriate.

Cardinal Resources plc

Cardinal Resources plc is an independent oil and gas exploration and production company with assets in Ukraine. Cardinal is an experienced operator with near-term opportunity to significantly expand existing operations through farm-ins or acquisitions of additional oil and gas assets accretive to reserves and production.

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This release may contain certain forward-looking statements. These statements relate to future events or future performance and reflect management's expectations regarding Cardinal's growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs, are based on information currently available to management and are based on reasonable assumptions as of this date. No assurance, however, can be given that the expectations will be achieved. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release. While Cardinal makes these forward-looking statements in good faith, neither Cardinal, nor its directors and management, can guarantee that the anticipated future results will be achieved.
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