Change in Executive Management

Cadogan Petroleum Plc
("Cadogan" or the "Company")

Change in Executive Management

Cadogan Petroleum plc announces the following change to its Executive Management:

Mr Adelmo Schenato has stepped down as Chief Operating Officer (COO) to take up the role of Chairman and CEO of Exploenergy, the Italian company recently bought by Cadogan, and will dedicate his time to following up on the award process of the licences.  Mr Schenato remains as a Non Executive Director of Cadogan Petroleum plc and as Technical Advisor to Cadogan Petroleum’s CEO.

The Board of Directors wishes to thank Mr Schenato for his contribution as COO and expresses its appreciation for his availability to take up this new challenge in support of the effort to geographically diversify the Company’s portfolio.

In addition, the Company’s registered office address has changed to 6^th Floor, 60 Gracechurch Street London, EC3V 0HR with immediate effect.

For further information, please contact:

Cadogan Petroleum Plc [phone]

Guido Michelotti
Chief Executive Officer

Cantor Fitzgerald Europe [phone]
David Porter