Directorate Change

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

                                 Board Change                                  

Cadogan Petroleum plc announces that Adelmo Schenato will join Cadogan as Chief
Operating Officer and has been appointed a Director of the Company with
immediate effect.

Adelmo Schenato joins Cadogan after a 35 year career at Eni S.p.A ("Eni"), the
Italian integrated energy business, where he served in senior global and
regional positions. His global roles at Eni included Well Operations R&D and
Technical Management, and Vice President HSE & Sustainability. His regional
roles include General Manager for Tunisia, Gabon and Angola as well as CEO of
Eni's Italian gas storage company.

Ian Baron, who has served in the post of Chief Operations Officer since August
last year, becomes Business Development Director.

Commenting on the changes Cadogan CEO Bertrand des Pallieres said:

"I am pleased to welcome Adelmo Schenato in his new position as Chief Operating
Officer and look forward to the tremendous contribution his unique and
extensive experience can bring Cadogan at this critical stage of its expansion.
Adelmo has one of the best pedigrees in the industry and his thorough
understanding of the sector, and in particular operating and drilling
technologies, will be critical to meeting our strategic objectives in Ukraine."

Commenting on Ian Baron's new role Mr des Pallieres continued:

"Ian Baron joined the Board of Cadogan in March 2009 with a mandate from the
previous Board to assess the best way to return value to shareholders. In that
time, he has helped Cadogan revitalize its business with foundations
established to rebuild growth. His new role will continue to build on those
foundations."

There are no items to disclose in accordance with UKLA LR 9.6.13 sections 2-6
in regard to the appointment of Adelmo Schenato.

Contacts

Cadogan Petroleum Plc [phone]

Bertrand des Pallieres Chief Executive Officer

Stefan Bort Company Secretary

Bankside [phone]

Simon Rothschild