Issuance of Share Options

Cardinal Resources plc
02 February 2006


CARDINAL RESOURCES PLC ISSUES SHARE OPTIONS

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, today
announces that its Board of Directors has granted share options to Non-Executive
Director Misbah Al Droubi.

Mr. Al Droubi will have the right to purchase up to 125,000 Ordinary Shares at
an exercise price of 30p per Ordinary Share, exercisable until 2nd February
2011. The average closing price of Cardinal's shares for the previous three
business days was 30p. The options vest as to 1/3 on 2nd February 2007, 2008 and
2009. The options have been granted in accordance with the terms and conditions
of the existing Share Option Scheme approved by shareholders on 9th March 2005.

A total of 11,680,000 options are currently held by Directors and employees
under the existing scheme.

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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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