Holding in Company

Cardinal Resources plc
02 February 2006


HOLDINGS IN COMPANY

LONDON - Thursday, 2nd February 2006

Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'The Company'), an independent
oil and gas production and exploration company operating in Ukraine, was today
notified that, following a purchase of 7,170,000 shares between 25th and 26th
January 2006, Deutsche Bank AG London now has an interest in 16,390,000 Cardinal
Ordinary Shares, representing 14.31% of the issued Ordinary Share capital of the
Company.

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For further information please contact:

Cardinal Resources             Parkgreen Communications
Kate Spiro                     Justine Howarth / Victoria Thomas
[phone]           [phone]
[e-mail]         [e-mail]


Notes to Editor

Cardinal Resources plc
Cardinal Resources plc is an independent oil and gas production and exploration
company with assets in Ukraine. Cardinal is an experienced operator in the
country focused on expanding its existing operations through the farm-in or
acquisition of additional upstream oil and gas assets that can be further
developed through the application of modern technology and expertise.




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