‘Oil and gas veterans comprise new management’
DUBLIN, OHIO – December 5, 2012 / PRNewswire: Cardinal Energy Group announces the election of new Officers and Directors. Cardinal’s newly elected Officers and Directors are seasoned oil and gas executives who have extensive public company operating experience.
Timothy W. Crawford, Cardinal’s newly elected CEO and Director, remarks, “We are fortunate enough to have attracted some of the best oil & gas industry people who also have knowledge in operating public companies”.
Daniel Troendly was elected as CFO and Director; a former controller of Atlas Resources (ATLS) while at Atlas he oversaw an annual drilling budget of $200 million.
Rashmi Yajnik was elected President and Director. Mr. Yajnik is one of five Civil Rights Commissioners who has been appointed by three different State of Ohio Governors. He is an oil & gas industry veteran that has drilled and completed more than 200 wells throughout the Appalachian Basin. He is one of the few Independent Oil & Gas Operators that has participated in offshore drilling in the Gulf of Mexico.
About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is based in Dublin, Ohio. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is twofold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company’s calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at www.cardinalenergygroup.com.
Forward Looking Statements
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Cardinal Energy Group, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to obtain financing and close on the acquisition of the oil and gas leases and property, our beliefs concerning our ability to increase the rate of oil and gas production, and the expected demand, pricing and operating results for our oil and gas operations.
Cardinal Energy Group, Inc.
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