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A little known Oil play floated on AIM in 2005 has a lot in common with JKX Oil and Gas. Cardinal Resources, based in the Ukraine is cutrrently producing 1172 boepd with plans for massive future development. See presentation here http://www.cardinal-uk.com/Cardinal_Factsheet_14_03_06.pdf

For further in depth research see their web address:
www.cardinal-uk.com

I would welcome your views.

CARDINAL RESOURCES PLC 2005 ANNUAL REPORT AND ACCOUNTS



LONDON Wednesday, 21st June 2006



Cardinal Resources plc (AIM:CDL) (Cardinal or the Company), an independent oil and gas production and exploration company operating in Ukraine, announces that its Annual Report and Accounts for the year ended 31st December 2005 have today been posted to shareholders.



Copies of the Annual Report are available from the offices of Cardinal Resources: Whitefriars House, 6 Carmelite Street, London EC4Y 0BE for the period of one month. The report can also be viewed and downloaded at www.cardinal-uk.com.



Cardinals Annual General Meeting will be held at 10 am on 27th July 2006 at the Crowne Plaza Hotel London The City, 19 New Bridge Street, London, EC4V 6DB.



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For further information please contact:



Cardinal Resources Parkgreen Communications

Kate Spiro Justine Howarth / Victoria Thomas

+44 (0) 20 7936 5258 +44 (0) 20 7493 3713

kspiro@cardinal-uk.com victoria.thomas@parkgreenmedia.com



Notes to Editor

Cardinal Resources plc

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.




06-06 Annual Report Announcement.pdf (27.7 KB)

Cardinal Resources Chairman has just added another 45,000 shares. See link for details...

http://www.cardinal-uk.com/Director_Holdings_19_07_06.pdf

LONDON Friday, 21st July 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 Robert J. Bensh, Chairman and Chief Executive Officer of Cardinal, purchased 99,000 Cardinal Ordinary Shares at a price of 18.25p on 20th July.

Mr. Benshs total holding in the Company now equals 1,662,533 Cardinal Ordinary Shares, or 1.5% of the issued share capital.

Interesting stuff, Austing - I agree the co looks undervalued, but the debt/warrant situation pointed out by Andy is nasty.

Cardinal have been delisted from AIM!

Commiserations to any holders here.

Media comment, click HERE



Soultraders,

The debt/warrant situation mentioned seems to have ben a major stumbling block here, and was a clear warning IMO.