ORI Oriel Res.

RNS Number:5290Q
Cheyne Capital Management (UK) LLP
19 March 2008

                                       FORM 8.3
    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
                        (Rule 8.3 of the Takeover Code)

1.         KEY INFORMATION

Name of person dealing  (Note 1)               Cheyne Capital Management (UK) LLP

Company dealt in                               Oriel Resources Plc

Class of relevant security to which the        Ordinary
dealings being disclosed relate (Note 2)

Date of dealing                                 4th March 2008


2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)        Interests and short positions (following dealing) in the class of
relevant security dealt in (Note 3)


                                                        Long                              Short

                                               Number          (%)              Number           (%)
                                                                                        

(1) Relevant securities                        0                0               0                 0

(2) Derivatives (other than options)           226,588      0.04%               0                 0

(3) Options and agreements to purchase/sell    0                0               0                 0

Total                                          226,588      0.04%               0                 0

(b)        Interests and short positions in relevant securities of the company,
other than the class dealt in (Note 3)


Class of relevant security: Warrants                  Long                              Short

                                               Number          (%)              Number           (%)

(1) Relevant securities                        0                0               0                 0                     
(2) Derivatives (other than options)           1,450,000   10.94%               0                 0

(3) Options and agreements to purchase/sell    0                0               0                 0

Total                                          1,450,000   10.94%               0                 0




(c)        Rights to subscribe (Note 3)


Class of relevant security:                    Details











3.         DEALINGS (Note 4)



(a)        Purchases and sales


Purchase/sale                          Number of securities                  Price per unit (Note 5)










(b)        Derivatives transactions (other than options)


Product name,         Long/short (Note 6)       Number of securities (Note 7)        Price per unit (Note 5)

e.g. CFD


CFD                   Long                      100,000                              GBp 105.41







(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product name,         Writing, selling, Number of securities  Exercise   Type, e.g.      Expiry     Option money
                        purchasing,     to which the option              American,
e.g. call option      varying etc.      relates (Note 7)      price      European etc.   date       paid/received per
                                                                                                    unit (Note 5)







(ii)        Exercising


Product name, e.g. call option         Number of securities                  Exercise price per unit (Note 5)








(d)        Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)         Details                               Price per unit (if applicable) (Note 5)




























4.         OTHER INFORMATION



Agreements, arrangements or understandings relating to options or derivatives




Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating
to the voting rights of any relevant securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.


None







Is a Supplemental Form 8 attached? (Note 9)                 NO




Date of disclosure                                          19th March 2008

Contact name                                                Kiran Bassi

Telephone number                                            020 7968 7324

If a connected EFM, name of offeree/offeror with which connected

If a connected EFM, state nature of connection (Note 10)






Notes



The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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