Key Developments: Cardinal Energy Group Inc (CEGX.OB)

CEGX.OB on OTC BB

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30 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Cardinal Energy acquires the Fortune Lease
Tuesday, 2 Sep 2014 09:30am EDT 

Cardinal Energy Group Inc:Announces that it has completed the acquisition of the Fortune Lease.Says it will participate in 50 pct of the play on 310 acres.Lease has one un-completed, plugged well that will be re-entered and re-drilled to the prolific Caddo formation.  Full Article

Cardinal Energy Group Inc in agreement to make entry into Eagle Ford Shale
Monday, 14 Jul 2014 07:15am EDT 

Cardinal Energy Group Inc:Signs term sheet laying out specific terms and conditions precedent to final purchase & sale agreement to acquire oil and gas lease interests on about 2,800 net acres, located in Eagle Ford Shale formation underlying Gonzales and Wilson Counties in central portion of State of Texas.Says acquisition includes operating interests in ten producing wells, one salt water disposal well, production equipment, leases and drilling permits, together with all transferable intellectual assets held by Nordic Oil USA 1 LLLP necessary to operation of wells and leases.  Full Article

Cardinal Energy Group Inc acquires Bradford Leases
Tuesday, 24 Jun 2014 05:45am EDT 

Cardinal Energy Group Inc:Announces acquisition of Bradford Leases in Shakelford County, Texas from Bluff Creek Petroleum, LLC.Says it have acquired 93.75 pct working interest (70.3125 pct net revenue interest) in 2-acre producing units surrounding each of seven existing wells located on the Bradford 'A' and Bradford 'B' leases.Says it have purchased these leasehold interests pursuant to the terms of purchase & sale and Farmout agreements for total cash consideration of $225,000.Under terms of Farmout agreement our wholly-owned subsidiary CEGX of Texas, LLC is obligated to spud the initial 'Earning Well' by Sept. 15.  Full Article

Cardinal Energy Group, Inc announces purchase of property
Thursday, 12 Jun 2014 01:00pm EDT 

Cardinal Energy Group, Inc's CEGX:Announces that it has purchased property at 524 East Highway 180, Albany, Texas.  Full Article

Cardinal Energy Group Inc completes sale of California and Ohio Assets
Thursday, 24 Apr 2014 05:45am EDT 

Cardinal Energy Group Inc:Completes sale of oil and gas assets in California and Ohio to California Hydrocarbons Corporation for 3,000,000 shares of Cardinal Energy stock held by California Hydrocarbon that will be cancelled.Cardinal Energy common stock is valued at $2 mLn as of April 22.  Full Article

Cardinal Energy Group Inc announces private placement financing
Tuesday, 22 Apr 2014 05:45am EDT 

Cardinal Energy Group Inc:Company sold $3.5 mln of 12 pct senior secured convertible notes maturing Dec. 31, 2015 to accredited investors.Due to placement being oversubscribed, the company will be placing additional $1.5 mln with accredited investors, bringing total amount to $5 mln.Additional notes will be issued at the same term.Proceeds will be used to re-work and recomplete 78 wells located in Texas, fund strategic acquisitions, and for working capital.  Full Article

Cardinal Energy Group Inc completes Stroybel-Broyles acquisition
Friday, 7 Mar 2014 09:30am EST 

Cardinal Energy Group Inc:Finalized the previously announced Purchase Sale Agreement to acquire the Stroybel-Broyles Lease located in Eastland County, Texas.Prospect was acquired from Hunting Dog Capital, LLC located in San Francisco, California.Prospect consists of 235 acres and 32 oil wells. This acquisition increases the Company's acreage in Texas by 235 acres.  Full Article

Cardinal Energy Group Inc completes powers-sanders acquisition
Thursday, 6 Mar 2014 08:45am EST 

Cardinal Energy Group Inc:To acquire Powers-Sanders Lease located in Shackelford County, Texas.Prospect contains 385 acres and five producing oil wells.Acquisition increases company's acreage by about 385 acres and production by 31 BOPD.  Full Article

Cardinal Energy Group Inc enters into working interest purchase and sale agreement - Form 8-K
Tuesday, 18 Feb 2014 04:06pm EST 

Cardinal Energy Group Inc:Says on Feb 11, it entered into a working interest purchase and sale agreement with HD Special Situations, LP, an unrelated third party to purchase a 100pct working interest and an 80pct net revenue interest in oil and gas leasehold assets and wellbores located in Eastland County, Texas.Says it agreed to purchase the oil and gas assets for $75,000 payable in cash at closing.Says closing date must occur on or before March 5.  Full Article

Cardinal Energy Group Inc to acquire Stroybel-Broyles Lease
Wednesday, 12 Feb 2014 09:15am EST 

Cardinal Energy Group Inc:Says it has signed a purchase and sale agreement to acquire the Stroybel-Broyles lease located in Eastland County, Texas from Hunting Dog Capital, LLC., of San Francisco, California.Says the prospect has 235 acres with 32 wells including three active wells and two injection wells.Financial terms of the transaction were not disclosed.  Full Article

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