I have considered investing in an unknown oil minnow that is operational in the Ukraine and potentially of the same calibre as JKX Oil and Gas.

Does anyone know about this company or have any thoughts?

Gerry

Takeover Bid Approach...................

Wonder if this news has anything to do with the news on Cardinal today (as CDL has Ukrainiane assets) :

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Shell confirms interest in Ukrainian mineral resources

KYIV. Aug 23 (Interfax) - Shell Exploration & Production B.V. (The Netherlands) has confirmed its interest in prospecting and developing oil and gas deposits in Ukraine, including in the country's portion of the Black Sea shelf.

Shell is interested in any deposits on Ukrainian territory, the company's public relations manager Antonius Papaspiropoulos told Interfax.

"Despite losing a tender for a product-sharing agreement on the Kerch stretch of the Black Sea shelf, the company hasn't given up and is ready to bid in similar tenders," he said.

Papaspiropoulos said there was dynamic progress in additional prospecting in the Shebelinskoye and Zapadno-Shebelinskoye fields in the Dnepr-Donetsk basin, in cooperation with Ukraine's Ukrgazbydobuvannya company.

Seismic exploration of the fields is due to begin in late 2007-early 2008, and drilling is scheduled for the first half of 2009. lg md

http://www.interfax.ru/e/B/finances/26.html?id_issue=11844163

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what price u think CDL is worth if taken over

comment, click HERE

scotivestor,

Sadly that looks unlikely at present, and 'cash is tight'!

INTERIM RESULTS DELAYED - CARDINAL SUSPENDED
LONDON Monday, 01 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 Companys 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 Companys balance sheet, the underwriting of an institutional private placement or the purchase of all of the Companys 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.

Cardinal have been delisted from AIM!

Commiserations to any holders here.

Media comment, click HERE