Analyst Coverage

Disclaimer

Cardero Resource Corp.. is followed by the analysts listed below. Please note that any opinions, estimates or forecasts regarding Cardero's performance made by these analysts are the analysts' alone and do not represent opinions, estimates or forecasts of Cardero or its management. Cardero does not by its reference below or distribution imply its endorsement of or concurrence with such opinions, estimates or forecasts.

Firm	Analyst	Location
Cormark Securities Inc.	Cliff Hale-Sanders, CFA	Toronto, ON
Jennings Capital Inc.	Russell Stanley, CFA, MBA	Toronto, ON
Macquarie Capital Markets Canada Ltd.	Daniel Greenspan	Toronto, ON
Ocean Equities Ltd.	Sam Spring, CFA, CA	London, UK