Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                         
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                                      
of existing shares to which voting rights are                   
attached:                                              CADOGAN PETROLEUM PLC   
                                                                                                              
2 Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                       Yes
                                                                                        
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 notification 
obligation:                   European Bank for Reconstruction and Development                     
                                                                                        
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:                           31 January 2013                                                                     
  
                                                                                      
6. Date on which issuer notified: 18 February 2013                               
 
                                                                                       
7. Threshold(s) that is/are crossed or   Disposal of all 11,632,866 shares              
reached:                                                                      
                                                                                        
8. Notified details:                                                                    
                                                                                        
A: Voting rights attached to shares:                                        
                                                                                        
Class/ type of      Situation previous to          Resulting situation after the triggering 
shares if possible  the triggering transaction     situation                                         
using the ISIN CODE Number of     Number of        Number of  Number of voting   %of voting                   
                    shares        Voting Eights    shares     rights             rights                      

                                                   Direct     Direct  Indirect   Direct Indirect
                    11,632,866                     ZERO                          ZERO
                                                                                                               
                                                                                                           
B: Qualifying Financial Instruments                                                     
                                                                                        
Resulting situation after the triggering transaction                                    
                                                                                        
Type of       Expiration     Exercise/         Number of voting       % of voting  
financial     date          Conversion Period  rights that may be     rights
                                               acquired if the 
                                               instrument is exercised/
                                               converted

C: Financial Instruments with similar economic effect to Qualifying Financial           
Instruments                                                                      
                                                                                        
Resulting situation after the triggering transaction                                    
                                                                                        
Type of    Exercise price Expiration   Exercise/   Number of voting   % of voting      
financial                 date         Conversion  rights instrument  rights    
instrument                             period      refers to                          
                                                                    Nominal Delta   
                                                                                        
                                                                                        
                                                                           
                                                                                                    
Total (A+B+C)                                                                           
Number of voting rights                  Percentage of voting rights                    
                                                                                        
Zero                                                                                    
                                                                                        


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:                                                  James Wilson         
                                                                                        
15. Contact telephone number:                                      0207 338 6096