‘Real estate purchase provides local base of operations’
Dublin OH, June 12, 2014 — Cardinal Energy Group, Inc. (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) announces that the Company has purchased property at 524 East Highway 180, Albany, Texas. The new field office is situated on a half-acre site with offices, shop and a secure yard. The property was purchased by Cardinal Energy’s wholly owned subsidiary CEGX of Texas, LLC – Operator Number 140712.
“We will use this new location as our local field office to base our operations for the 78 wells we are reworking in Shackelford and Eastland Counties.We are continuing to aggressively ramp-up our operations in Central Texas,” comments Timothy Crawford, CEO of Cardinal Energy. “This location will allow us to store, refurbish, secure, and recycle the oilfield equipment, which is now located over several thousand acres on our leases.. It also provides the Company a place to administrate and closely supervise our operations and expenditures as related to our leases in Shackelford and Eastland counties. The property consists of a front office with an adjoining work shop along with several covered parking structures for our vehicles. We will bring equipment to this location from the field in order to refurbish or recycle. Our new operations office and yard gives us the local presence we need to continue developing our leases and expanding our business in Central Texas.We currently have one field supervisor and two interns from the University of Kentucky working from this location.”