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Cardinal Releases 3rd Quarter Earnings Report

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‘CEGX continues its transition to contract drilling and field development operations’

Abilene TX, December 8, 2015 — Cardinal Energy Group, Inc. (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) reports that “EBITDA” (earnings before interest, taxes, depreciation and amortization) for the quarter ended September 30, 2015 was $92,390 compared to $454,330 for the quarter ended September 30, 2014. “EBITDA” for the nine months ended September 30, 2015 was a negative $93,061 compared to a negative $1,130,059 for the comparable period of 2014.

The Company reported an Operating Loss (operating revenues less operating expenses) for the third quarter of 2015 of $344,964 compared to operating income of $233,819 recorded in the third quarter of 2014. The Company’s Operating Loss for the nine months ended September 30, 2015 narrowed to $716,366 from an Operating Loss of $1,305,638 for the comparable period of 2014. The current periods’ results were hampered by delays in the receipt of capital required for the development of the Bradford leases which necessitated a cessation of operations during the third quarter of 2015. Capital funding resumed in mid-September and the Company has resumed drilling and development activities on the properties. Operating results during the three month and nine month periods ended September 30, 2015 also reflect lower crude oil prices and lower production volumes due to mechanical down-hole problems and legal issues at some of our recently developed properties in north-central Texas. These negative factors were partially offset by decreases in operating and production expenses which reflect the Company’s decision to shift its primary focus from the re-working of existing wells on its Texas oil and gas properties to providing contract drilling and field development services to third parties.

The three month and nine […]

By | 2017-04-13T22:33:28+00:00 December 8th, 2015|Investor Relations, News, Oil and Gas Programs, Stock Market|0 Comments

OTC Markets Group Welcomes Cardinal Energy Group to OTCQB

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Oct 28, 2014 – OTC Disclosure & News Service – New York, NY –

OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Cardinal Energy Group, Inc. (OTCQB: CEGX) is verified for trading on OTCQB®, the venture marketplace for entrepreneurial and development stage companies, effective October 28, 2014.

Cardinal Energy Group is an environmentally responsible oil and gas company. The company is reclaiming the vast, remaining reserves from the nation’s abandoned or minimally producing oil fields. Cardinal Energy Group embraces this overlooked and fragmented energy sector as its business focus – making it unique; it is among the first company to commercialize the reclamation of stranded reserves from fields that have already been intruded upon by past drilling.

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.

OTC Link ATS is operated by OTC Link LLC, member […]

By | 2014-10-29T15:47:48+00:00 October 29th, 2014|Investor Relations, Media, News, Oil and Gas Programs, Stock Market|0 Comments

Cardinal Energy Group, Inc. Will Attend IPAA OGIS New York on April 7th

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DUBLIN, OH, Apr 02, 2014 (Marketwired via COMTEX) — Cardinal Energy Group, Inc. (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) announced today that management will host a breakfast presentation at the IPAA OGIS New York Conference on Monday, April 7, 2014.
Date: Monday, April 7, 2014 Time: 7:45am ET Location: Sheraton Towers Time Square, New York, NY

Conference participation is by invitation only and registration is mandatory. For more information about the conferences or to schedule a one-on-one meeting, please contact the conference coordinator.

Please visit the investor relations section of Cardinal Energy’s website, www.cegx.us for additional information regarding the webcast of the presentation.

About OGIS(R) New York The IPAA Oil & Gas Investment Symposium New York (OGIS New York) is a hallmark on the industry calendar and an annual must destination for serious energy investors. There is a distinct advantage for investors participating at OGIS New York, as the unique and focused setting allows for benefits that go beyond the basic company presentation.

By | 2014-04-23T02:41:31+00:00 April 23rd, 2014|Investor Relations, Media, News, Oil and Gas Programs, Stock Market|0 Comments

Cardinal Energy Group, Inc. Reports Full Year 2013 Earnings Results; Provides Strategy Update and Production Guidance

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Company Currently Producing 44 BOPD; Expects Production Rate of 400 BOPD by Q3 2014; Company Raised $3.5 Million in March to Stimulate Production Growth; Management to Host Conference Call on Thursday, April 3rd at 11:00am ET

DUBLIN, OH, Mar 31, 2014 (Marketwired via COMTEX) — Cardinal Energy Group, Inc. (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) announced financial results for the twelve months ended December 31, 2013. The Company also provided current production data and guidance along with an update on its existing business strategy.
The Company is focused on growth via the reworking of marginal oil and gas wells, exploiting untapped “behind the pipe” reserves by recompleting current well bores in zones overlying currently producing formations and by selected development drilling in mature but marginally producing fields throughout Texas. Many of these wells were drilled during the boom time of the early 1980’s. Newer production theories and technology make it possible to re-enter these older wells that have been “walked away from” by their original operators.

FY 2013 Financial Results

Revenues from oil and gas decreased to $16,657 for the year ending December 31, 2013 from $21,162 for the prior year as a result of lower production.

General and administrative expenses increased to $1,546,956 for the year ending December 31, 2013 compared to $206,585 for the year ending December 31, 2012. The primary reason for the increase was higher consulting and professional fees incurred in connection with oil and gas property acquisitions. Non-cash stock-based compensation expense for third party consultants was $578,375 in 2013 compared to $15,150 in 2012. Additionally, 2013 earnings were negatively impacted by higher interest expense related to the Company’s higher level of debt outstanding during the year.

Net loss for the year ending December 31, 2013 […]

By | 2014-04-23T02:37:36+00:00 April 23rd, 2014|Investor Relations, News, Oil and Gas Programs, Stock Market|0 Comments

Wall Street Corner Completes Report on Cardinal Energy

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‘Larry Oakley’s Analysis of Cardinal Energy’s Status’

Dublin OH, October 10, 2013 — (OTCQB: CEGX) Cardinal Energy Group, Inc. announces the publishing of a report on Cardinal Energy Group, Inc. by Larry Oakley of the Wall Street Corner.com newsletter (see www.wallstreetcorner.com).

Larry Oakley is CEO and editor at WallStreetCorner.com, Inc., the publisher of the “Conservative Speculator” and its four associated editorial columns (“Stock Pick,” “Opinion,” “Comment,” and “Bold Ventures”). His loyal regular readers reside in more than 96 countries. They include top players in major international corporations and serious investors who buy for the long term as well as stock brokers, bankers, financial analysts, investment editors, & fund managers.

Timothy Crawford comments, “Larry Oakley has become known worldwide as the Elder Statesman of Emerging Growth Investment Writers. He is a conservative analyst. One of our shareholders suggested to Larry that he should look into Cardinal Energy. So he gave me a call and decided to do this research report on our company. We are pleased that a seasoned professional like Larry has interest in our company and has taken the time to report his findings on Cardinal to his worldwide investor audience”.

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 […]

By | 2013-10-08T17:28:19+00:00 October 8th, 2013|Investor Relations, Media, News, Stock Market|0 Comments