‘Good oil shows in multiple zones, first well is turned online’
Dublin OH, September 11, 2014 — Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that the first well drilled on its Bradford lease, the ‘A’#5A has been completed and has just been put on production. A stable production rate is expected in the next couple of weeks. The 310 acre Bradford prospect has 7 existing wells that anchor Cardinals new 14 well drilling program.
“The ‘A’#5A is the first completed well of our 14 well drilling program on the Bradford leases. We have perforated and acidized the Tannehill zone, ran tubing and rods down hole, set the pumping unit, laid the flow line and hooked up the electric lines and started pumping the well, ” remarks Timothy Crawford, CEO of Cardinal, “We also have drilled two new producing wells that need to be perforated and completed, the ‘A’#6A and the ‘B’#6B. The completion process is currently in progress. To support the designed waterflood, we also have spud the ‘B’#4B for use as an injector. All of the new wells drilled to date confirm three pay zones with varying shows of oil in the Frye, Tannehill and Hope sands. We encountered another 6 notable geological zones during the course of drilling. Among them was the Moutray Sandstone, which had a strong gas show at 360’ with a 196 unit gas kick with background gas of 15 units. We consider this a minor reserve, which we will not complete at this time.” He goes on to say, “We are right on schedule with our new 14 well drilling program on the Bradford A and B leases due to the excellent execution by our field team and our subcontractors.”