Cadogan Petroleum Plc                             

                             ("Cadogan" or the "Company")                          

                                  Directorate Change                               

    The Company announces that it has today appointed Guido Michelotti as its Chief
    Executive Officer and as a Director. An Oil & Gas executive with over 30 years'
    of experience in total, Mr Michelotti spent more than 10 years in senior
    executive roles with eni, leading e&p companies and overseeing equity
    production of hundreds of thousands of boe per day as well as managing major
    related projects.

    He has had extensive exposure to leading organisations, having worked
    successfully with members of Cabinets, senior representatives of the
    Authorities, executives of IOCs and NOCs and financial institutions. He has
    broad international experience, having worked in Libya, Egypt, UK, China, Italy
    and Switzerland, and managed assets in multiple countries in North Africa, the
    Middle East and Central Asia. He also has a deep knowledge of all phases of the
    e&p cycle having managed at executive level in different times of his
    professional career, Exploration, Development, Research and Technology,
    International Negotiations, besides being accountable for the P/L of multi
    billion dollar assets. Mr Michelotti was for the last 18 months the CEO of
    Schwarzfield Energy Fund, a €1 billion, Luxembourg based, Private Equity fund.

    The Board looks forward to working with Mr Michelotti, confident that his
    appointment will contribute greatly to the Company's future success.

    25 June 2015