Cadogan Petroleum: Bertrand des Pallieres Steps Down as CEO

The Company announces that Mr Bertrand des Pallieres, Chief Executive Officer, has submitted his resignation as CEO to the Board of Directors in order to focus on the Company’s increasingly active oil and gas trading business. Mr des Pallieres will remain an executive director of the Company. The Company expects to announce the appointment of a new CEO after the forthcoming Annual General
Meeting to be held on 25 June 2015.

The Board of Directors wishes to thank Mr des Pallieres for his leadership during the prevailing turbulent market environment and for his continued support in an executive capacity to develop an innovative and profitable oil and gas trading business for Cadogan.