CADIZ INC — Director's Dealing 2007

Jul 11, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2007-07-09

Reporting Person: Peloton Partners, LLP (10% Owner)
Reporting Person: Grant Geoffrey T (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-09	Common Stock, par value $0.01 per share ("Common Stock")	P	24531	$19.6199	Acquired	1292904	Indirect
2007-07-10	Common Stock	P	31400	$19.3559	Acquired	1324304	Indirect

Footnotes

F1: Peloton Partners LLP ("Peloton Partners"), as investment manager to Peloton Partners LP and Peloton Multi-Strategy Master
Fund, Ltd. (the "Investment Entities") may be deemed to be the beneficial owner of the Issuer's securities held by the
Investment Entities. Peloton Partners disclaims beneficial ownership of such securities, and this report shall not be
deemed an admission that Peloton Partners is the beneficial owner of the securities for the purpose of Section 16 or for any
other purpose, except to the extent of its pecuniary interest therein.

F2: Geoffrey Grant, as Chief Investment Officer of Peloton Partners, may be deemed to be the beneficial owner of the Issuer's
securities held by the Investment Entities. Mr. Grant disclaims beneficial ownership of such securities, and this report
shall not be deemed an admission that Mr. Grant is the beneficial owner of the securities for the purpose of Section 16 or
for any other purpose, except to the extent of his pecuniary interest therein.