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

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