Contact Information: Cardinal Resources Charles Green Franziska Stahlknecht +44 (0) 20 7936 5250 investor.relations@cardinal-uk.com or Parkgreen Communications Justine Howarth Victoria Thomas 44 (0) 20 7493 3713 victoria.thomas@parkgreenmedia.com
LONDON--(CCNMatthews - October 30, 2006) - Cardinal Resources plc (AIM: CDL) ("Cardinal" or "the Company"), an independent oil and gas production and exploration company operating in Ukraine, was notified on 27th October 2006 that QVT Fund LP have increased their shareholding by 900,000 Cardinal Ordinary Shares (0.78%) to 18,545,000 Cardinal Ordinary Shares which enlarged shareholding represents 16.18% of the issued Ordinary Share capital of the Company.
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.