Result of EGM

16 June 2010

                             Cadogan Petroleum plc                             

                                  ("Cadogan")                                  

                           Result of General Meeting                           

A General Meeting of Cadogan Petroleum PLC was held on 16 June 2011 at 2.30 pm.

At the meeting the following ordinary resolution was put to shareholders:

THAT the proposed disposal of up to 60% of Pokrovskoe Petroleum B.V. and 60% of
Zagoryanska Petroleum B.V. by Cadogan Petroleum Holdings B.V. (the Disposal)
pursuant to and on the terms and subject to the conditions of an agreement
dated 12 April 2011 between Cadogan Petroleum Holdings B.V. and Eni Ukraine
Holdings B.V. (the Disposal Agreement) as more particularly described in the
circular to the Company's shareholders dated 27 May 2011 of which this notice
forms part (the Circular), be and is hereby approved, and that the directors of
the Company (the Directors) (or any duly constituted committee thereof) be and
are hereby authorised to make such non-material amendments, waivers or
variations to the terms and conditions of the Disposal or to the Disposal
Agreement and any agreements incidental to or forming part of the Disposal
Agreement which the Directors (or any duly constituted committee thereof)
consider necessary, expedient or desirable to complete or give effect to or
otherwise in connection with the Disposal and/or any agreement executed to give
effect thereto and to do all such other things as they may consider necessary,
desirable or expedient in connection with the Disposal.

The resolution was carried.

The proxy vote in favour was 37,832,846 with no votes against or votes
withheld.

The passing of this resolution was a condition precedent under the proposed
transaction between the Company and ENI Ukraine Holdings BV, which is expected
to complete in early July 2011.

A copy of the resolution passed will shortly be available for inspection at the
National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do

Stefan Bort

Secretary