CALGARY, Alberta, July 30, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the second quarter ended June 30, 2020.

Selected financial and operating information is shown below and should be read in conjunction with Cardinal’s unaudited condensed interim financial statements and related Management’s Discussion and Analysis for the three months ended June 30, 2020 which are available at www.sedar.com and on our website at www.cardinalenergy.ca.

FINANCIAL HIGHLIGHTS FROM THE SECOND QUARTER OF 2020

Cardinal had second quarter positive free cash flow(1) due to reduced

… Continue Reading

CALGARY, Alberta, July 20, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal“) (TSX:CJ) announces that approximately 62% of the outstanding principal amount of its 5.50% convertible debentures have exercised their right to exchange their debentures for a new series of 8.00% convertible debentures. In addition, Cardinal has elected to extend the period of time that debentures can be exchanged from 5:00 p.m. (Eastern time) on Monday, July 20, 2020 to 5:00 p.m. (Eastern time) on Tuesday, August 4, 2020.

Please contact us via email at info@cardinalenergy.ca or our exchange agent, Computershare Investor Services Inc., at 1-800-564-6253 or via … Continue Reading

CALGARY, Alberta, July 15, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal“) (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to July 29, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith, the date for the re-determination of the borrowing base has also been extended to July 29, 2020. The extension of the borrowing base re-determination to July 29, 2020 provides all parties additional time to finalize negotiations and obtain required approvals.

About Cardinal Energy Ltd.

One of Cardinal’s goals is … Continue Reading

CALGARY, Alberta, June 29, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to July 15, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith, the date for the re-determination of the borrowing base has also been extended to July 15, 2020. The extension of the borrowing base re-determination to July 15, 2020 provides all parties additional time to finalize negotiations and obtain required approvals.

About Cardinal Energy Ltd.

One of … Continue Reading

CALGARY, Alberta, June 25, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) reports that the nominees listed in its Information Circular – Proxy Statement for the 2020 Annual Meeting of Shareholders were elected as directors. Detailed results of the vote for the election of directors held earlier today are set out below.

Name of Nominee   Votes For   Percent (%)   Votes
Withheld   Percent (%) M. Scott Ratushny   30,238,854   96.81   996,448   3.19 John A. Brussa   24,311,071   77.83   6,924,231   22.17 David D. Johnson   30,194,501   96.67   1,040,801   3.33 Stephanie Sterling   30,167,754   96.58   1,067,548   3.42 Gregory T. Tisdale   21,134,707   67.66   10,100,595   32.34… Continue Reading

CALGARY, Alberta, June 19, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal“) (TSX: CJ) announces that 99.54% of the holders of our 5.50% convertible debentures that voted at the extraordinary meeting of debentureholders held earlier today have voted in favour of a resolution approving certain amendments to the debentures. As a result, all debentureholders now have the right to exchange their debentures for a new series of 8.00% convertible debentures. This right must be exercised prior to 5:00 p.m. (Eastern time) on Monday, July 20, 2020 (unless otherwise terminated, extended or amended by us).

Please contact us via email at … Continue Reading

CALGARY, Alberta, May 25, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) has received approval to extend the revolving period under the Company’s $325 million reserves-based credit facility (the “Credit Facility“) and intends to call a meeting of the holders of its 5.50% extendible convertible unsecured subordinated debentures due December 31, 2020 (the “Debentures“) to amend the Debentures with the addition of an exchange right.

Credit Facility

The Company’s $325 million Credit Facility was available on a revolving basis until May 23, 2020. On May 22, 2020, subject to certain conditions, the Company signed an … Continue Reading

CALGARY, Alberta, May 07, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the first quarter ended March 31, 2020.

Selected financial and operating information is shown below and should be read in conjunction with Cardinal’s unaudited condensed interim financial statements and related Management’s Discussion and Analysis for the three months ended March 31, 2020 which are available at www.sedar.com and on our website at www.cardinalenergy.ca. 

Financial and Operating Highlights           ($ 000’s except shares, per share and operating amounts) Three months ended March 31,   2020… Continue Reading

CALGARY, Alberta, March 17, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2019.

2019 FINANCIAL HIGHLIGHTS

Production for the fourth quarter of 2019 averaged 20,227 boe/d with crude oil production increasing by 1% over the third quarter of 2019.  As the Company is no longer limited by the Alberta government’s curtailment program, current production in March is approximately 21,500 boe/d (18,400 bbl/d of crude oil) or 10% higher than the fourth quarter of 2019 average;

We generated

… Continue Reading

CALGARY, Alberta, Feb. 26, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX:CJ) is pleased to present the results of its independent reserve report effective December 31, 2019. Cardinal’s year-end 2019 reserves were evaluated by independent reserves evaluator GLJ Petroleum Consultants (“GLJ”) as at December 31, 2019 (the “2019 Reserve Report”). The 2019 financial and operating information in this press release is based on estimates and is unaudited and accordingly, such financial information is subject to change based on the results of the Company’s year-end audit.

SUSTAINABILITY

2019 was a year of focus on long … Continue Reading

CALGARY, Alberta, Feb. 11, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) confirms that our dividend of $0.015 per common share will be paid on March 16, 2020 to shareholders of record on February 28, 2020. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an “eligible dividend” for Canadian income tax purposes.

About Cardinal Energy Ltd.

One of Cardinal’s goals is to continually improve our Environmental, Safety and Governance (“ESG”) mandate and operate our assets in a responsible and environmentally sensitive manner.  As part … Continue Reading

CALGARY, Alberta, Jan. 13, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) confirms that our dividend of $0.015 per common share will be paid on February 18, 2020 to shareholders of record on January 31, 2020. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an “eligible dividend” for Canadian income tax purposes.

About Cardinal Energy Ltd.

One of Cardinal’s goals is to continually improve our Environmental, Safety and Governance (“ESG”) mandate and operate our assets in a responsible and environmentally sensitive manner.  As part … Continue Reading