Holding(s) in Company

For filings with the FSA include the annex                                                
                                                                                          
For filings with issuer exclude the annex                                                 
                                                                                          
                                                                                          
                                                                                          
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                           
                                                                                          
                                                                                          
                                                                                          
1. Identity of the issuer or the underlying issuer                      Cadogan Petroleum 
of existing shares to which voting rights are                           Plc               
attached:ii                                                                               
                                                                                          
2 Reason for the notification (please tick the appropriate box or boxes):                 
                                                                                          
An acquisition or disposal of voting rights                                              X
                                                                                          
An acquisition or disposal of qualifying financial instruments which may result           
in the acquisition of shares already issued to which voting rights are attached           
                                                                                          
An acquisition or disposal of instruments with similar economic effect to                 
qualifying financial instruments                                                          
                                                                                          
An event changing the breakdown of voting rights                                          
                                                                                          
Other (please specify):                                                                   
                                                                                          
3. Full name of person(s) subject to the                              Michel Meeus        
notification obligation:iii                                                               
                                                                                          
4. Full name of shareholder(s)                                        Same as 3           
 (if different from 3.):iv                                                                
                                                                                          
5. Date of the transaction and date on                                                    
which the threshold is crossed or                                     22/12/2011          
reached: v                                                                                
                                                                                          
6. Date on which issuer notified:                                     5/01/2012           
                                                                                          
7. Threshold(s) that is/are crossed or                                3%                  
reached: vi, vii                                                                          
                                                                                          


 

8. Notified details:                                                                                
                                                                                                    
A: Voting rights attached to shares viii, ix                                                        
                                                                                                    
Class/   Situation previous             Resulting situation after the triggering transaction        
type of  to the triggering                                                                          
shares   transaction                                                                                
                                                                                                    
                                                                                                    
if       Number           Number        Number          Number of voting       % of  voting rights x
possible of               of            of shares       rights                                      
using    Shares           Voting                                                                    
the ISIN                  Rights                                                                    
CODE                                    Direct          Direct xi Indirect xii Direct Indirect      
                                                                                                    
                                                                                                    
Shares                                                                                              
voting                                                                                              
rights   4900000          4900000       7500000         7500000                3.25%                
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
B: Qualifying Financial Instruments                                                                 
                                                                                                    
Resulting situation after the triggering transaction                                                
                                                                                                    
Type of          Expiration    Exercise/                 Number of voting            % of voting    
financial        date xiii     Conversion Period xiv     rights that may be          rights         
instrument                                               acquired if the                            
                                                         instrument is                              
                                                         exercised/ converted.                      
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
C: Financial Instruments with similar economic effect to Qualifying Financial                       
Instruments xv, xvi                                                                                 
                                                                                                    
Resulting situation after the triggering transaction                                                
                                                                                                    
Type of    Exercise price Expiration   Exercise/        Number of voting rights   % of voting rights
financial                 date xvii    Conversion       instrument refers to      xix, xx           
instrument                             period xviii                                                 
                                                                                                    
                                                                                                    
                                                                                  Nominal Delta      
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
                                                                                                    
Total (A+B+C)                                                                                       
                                                                                                    
Number of voting rights                       Percentage of voting rights                           
                                                                                                    
7,500,000                                     3.25%                                                 
                                                                                                    


 

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
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:                                                  Stefan Bort          
                                                                                        
                                                                                        
                                                                                        
15. Contact telephone number:                                      0207 487 8301