‘The Acquisition Changes the Company Business Direction’
COLUMBUS OH, November 1, 2012 / PRNewswire: KOKO Ltd today announced the acquisition of Cardinal Energy Group, LLC. The acquisition sets a new course for the Company. Cardinal Energy is an independent gas and oil producer that operates throughout the Continental United States. The Company is in the process of its name and symbol change.
Gregory Ruff, Director of KOKO Ltd comments, “The acquisition of Cardinal Energy begins the start of a new Company mission. We divested our holdings in the home appliance business so we can focus our sites on the oil and gas industry. We are confident this acquisition will increase our shareholder value considerably by providing a solid growth opportunity for our Company. The principals of Cardinal Energy have deep experience in producing oil and gas. They are also seasoned public company veterans. They intend to capitalize immediately on the proven formations they have targeted in the Appalachian Basin. They select prospects to invest in that within previously successful oil and gas fields. These fields have fallen into disuse or disrepair by their
operators, but still offer tremendous revenue potential. By methodically refurbishing equipment and adding new technology, Cardinal has proven they can get these fields to once again produce significant returns with minimal investment.”
ABOUT CARDINAL ENERGY GROUP, INC. (KOKX): (www.cardinalenergygroup.com) Cardinal Energy Group, Inc. is an independent Oil and Natural Gas producing company based in Columbus, Ohio. Cardinal is focused on producing oil and natural gas from proven formations that have existing wells that need remediation due to neglect or disrepair. Cardinal utilizes modern production methods and technology to restart or increase production through reworks or new drilling within the target field. The Company operates throughout the Continental United States.
ABOUT KOKO LTD.: KOKO Ltd. was a publically traded manufacturing company with previous success in the household durables industry.
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.