Stmt re: Interims/Suspension

Cardinal Resources plc
01 October 2007


   CARDINAL RESOURCES PLC ANNOUNCES DELAY IN RELEASE OF INTERIM RESULTS
   LONDON - Monday, 1 October 2007                                            

   Cardinal Resources plc (AIM:CDL) ('Cardinal' or 'the Company'), an
   independent oil and gas exploration and production company operating in
   Ukraine, today announces a delay in release of its Interim Results.

   On 18 September 2007 Cardinal announced that refinancing discussions
   continue and cash flow remains very tight.

   The Company has now received a proposal from Silver Point Capital LP, its
   main provider of finance (who are a related party under the AIM Rules) to
   include the possible purchase of the Company's assets. In addition,
   another potential provider of finance (who is not a related party) has
   made proposals to the Company which are in course of amendment to include
   the restructuring of the Company's balance sheet, the underwriting of an
   institutional private placement or the purchase of all of the Company's
   assets.

   It has not yet been possible to conclude negotiations with either party or
   reach agreement on acceptable terms that the Board of Cardinal could
   recommend to shareholders.

   In the absence of such agreement and with consequent uncertainty over the
   source of short or medium term funding, the Company's Interim Results to
   30 June 2007 which were due for publication by 28 September 2007, have
   been delayed. The Company has requested suspension of its shares to
   trading on AIM until it can both clarify its financial position and
   publish its Interim Results for the six months to 30 June 2007.
   
   For further information please contact:
   Cardinal Resources                       Nominated Adviser
   Charles Green / Natalia Egorova          Nabarro Wells & Co. Limited
   [phone]                     John Wilkes / Marc Cramsie
   [e-mail]       [phone]
                                            [e-mail]

   Notes to Editor
   Cardinal Resources plc is an independent oil and gas company engaged in
   the acquisition, development, production and exploration of oil and
   natural gas properties 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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