Cardinal Energy Group has filed a lawsuit in the District Court of Shackelford County, Texas. Cardinal’s out-of-pocket damages as a result of the claims asserted in this lawsuit have been calculated at $1,735,765.

Dublin, OH -- (SBWIRE) -- 12/03/2015 -- Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company") (OTCQB: CEGX) reports that the Company has been awarded a partial default judgement on August 5, 2015 based on a lawsuit it filed in the District Court of Shackelford County, Texas, 259th Judicial District, against HLA Interests, LLC, Phillip Allen, SEDCO Operating, LLC, ERCO Holdings, Ltd, Caleb David Elks, and Michael Cies dba Terlingua Oil Associates.

Timothy W. Crawford, CEO of Cardinal remarks, "Cardinal filed this lawsuit against the corporate defendants and the individual members in their personal capacities on June 3, 2015. The lawsuit stems from a Working Interest Purchase Agreement that Cardinal entered into on July 3, 2013 with Defendant HLA Interests (an oil and gas management company that owns and controls existing oil fields in Texas), pursuant to which Cardinal agreed to purchase from HLA Interests its 85% working interest in 5 oil and gas leases known as the Dawson-Conway Leases (the "Leases") in Shackelford County, Texas. Cardinal was fraudulently induced to enter into the Agreement by the defendants, who knew that 3 of the 5 Leases had expired prior to executing the Agreement."

Mr. Crawford further comments, "Cardinal's out-of-pocket damages as a result of the claims asserted in this lawsuit have been calculated at $1,735,765. Adding the claims for attorneys' fees, and other damages, including punitive damages as a result of the intentional fraudulent conduct, Cardinal's damages will exceed $2,000,000. Cardinal will be awarded, at a minimum, its out-of-pocket damages of $1,735,765, with a good possibility that the Court will also award attorneys' fees and punitive damages as a result of the defendants' conduct." The Company anticipates that a hearing on damages will be heard by the Court in the near future at which time the amounts for attorneys' fees, other costs and punitive damages will be quantified.

About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Abilene, Texas and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at: http://www.cardinalenergygroup.com

Cardinal Energy Group is a company comprised of specialized energy experts, with over 150 years of combined industry experience in oil and gas production.

Media Contact:
Cardinal Energy Group, Inc.
John May, Executive VP
Address: 500 Chestnut Street,Suite 1615,Abilene, Texas 79602
Contact Number: 325-762-2112
Email: jmay@cegx.us
Url: http://www.cardinalenergygroup.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Cardinal Energy Group has reported updates to their Bradford A & B wells, including production, maintenance, and projections. The recent updates have been a success, and they will continue to assess further developments.

Dublin, OH -- (SBWIRE) -- 07/30/2015 -- Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company") (OTCQB: CEGX) reports on the progress at the Bradford A & B leases as the operator for Keystone Energy.

The following is a summarized "field report" from CEGX of Texas' Albany operations office for the week ending July 18:

- B # 4 - Completed second injector well and put it on-line thereby doubling injection volumes.

- B #10 - Completed well and put into production.

- A #4 - Added perforations to well and treated the existing zone. Also perforated and treated two additional zones doubling the water volume from the well.

- A #5 – Installed new well pump.

- A #3 – Installed new well pump.

- A #1 – Installed new well pump.

- B #1 – Installed new well pump, perforated and treated additional interval of sand.

- A #14 - Drilled the well. It will be completed week of July 25th.

- BW #1 - Bradford West - Completed the initial well, perforated and treated it. Ran rods and tubing. Set pump jack. Electric and tanks are to be installed.

Timothy Crawford, CEO of Cardinal comments, "Our recent drilling, completion and re-work activities on the Bradford A & B leases have been successful. As a result of our repairs we are seeing a 30% to 50% initial increase in oil production. We have doubled our source water volume and injection capability for the water flood. We anticipate as the increased water flood takes effect over the next several months that production will continue to increase significantly.

The A #14 well needs to be perforated in the Hope Sand so we can use it as an additional water source to further increase water flood volumes." He goes on to say, "We have done general maintenance and repairs to our Bradford A & B lease, fixing the roads and meters due to recent weather damage and changing out down-hole pumps to more efficiently handle increased fluid production volumes. We also drilled our first well, the BW #1, on the Bradford West lease. We are now assessing various development options based on our findings from the new well."

Cardinal Energy Group http://www.cardinalenergygroup.com

About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Abilene, Texas and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States.

More information on Cardinal Energy Group, Inc. is available at: http://www.cardinalenergygroup.com

Meta description
Cardinal Energy Group is a company comprised of specialized energy experts, with over 150 years of combined industry experience in oil and gas production.

Contact details:
John May
Executive VP
Cardinal Energy Group, Inc.
jmay@cegx.us
United States
http://www.cardinalenergygroup.com
325-762-2112

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Concho Oilfield Services, LLC and Hudson Petroleum, Ltd., Co., have asked the court to dismiss their claims against Cardinal Energy Group, which allows Cardinal to clean up their balance sheet and fix existing wells.

Dublin, OH -- (SBWIRE) -- 07/03/2015 -- Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company") is pleased to announce that the attorneys for Concho Oilfield Services, LLC and Hudson Petroleum, Ltd., Co., have asked the court to dismiss their claims against the Company with prejudice. The motions filed with the Texas District Court for Shackelford County discharges Cardinal of its obligations pursuant to the March 10, 2015 Joint Settlement Agreement. The amicable settlement of the suit requires Concho Oilfield Services to repair CEGX's No. 5B well on the Dawson-Conway 195B lease.

Timothy Crawford, CEO the Company comments, "This is good news on several fronts. First, the $100,000 payment cleans up our balance sheet by removing the obligation we accrued at December 31, 2014 in keeping with generally accepted accounting principles. Second, our payment and the motion filed with the court set the stage for Concho to begin the work necessary to repair the #5B well and get it producing again on our Dawson-Conway lease. That 195B #5B well was one of our best producers on the Dawson-Conway Lease, before Concho performed work on the well in February of 2014. Returning it to production is a critical first step in the Company's efforts to fully monetize this property".

Cardinal Energy Group http://www.cardinalenergygroup.com

About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Abilene, Texas and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at: http://www.cardinalenergygroup.com

Contact details:

John May
Executive VP
Cardinal Energy Group, Inc.
jmay@cegx.us
United States
http://www.cardinalenergygroup.com
325-762-2112

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Maximilian Global has formed Keystone Energy with the purpose of providing financing to Cardinal through a joint venture. These funds will be used to build up the Bradford A & B leases in Texas.

Dublin, OH -- (SBWIRE) -- 06/26/2015 -- Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company") is pleased to announce that it has secured long term project financing with Maximilian Global through the new company, Keystone Energy. Maximilian Global is a private equity firm based in New York and is controlled by Robert Levy. Maximilian Global formed Keystone Energy for the sole purpose of providing project financing to Cardinal through a joint venture approach. Cardinal initially owns a 5% stake in Keystone but has an option to acquire up to a 50% ownership stake in Keystone based on various oil & gas production benchmarks.

The first tranche of capital was received by the Company on Tuesday June 16th and was earmarked to complete the development of the Bradford A & B leases. The Company contributed a 10% Working Interest in the prospect to Keystone in exchange for a 5% ownership stake in Keystone and received $250,000 in cash from Keystone for its remaining 10% Working Interest in the properties. Maximilian Global has committed a total of $2,600,000 specifically for the Bradford A & B leases through Keystone Energy.

This first project financing is part of a long term plan by the Company and Maximilian Global to provide a revolving line of credit to Cardinal, up to a maximum aggregate amount of $25,000,000, through a strategic partnership approach to capitalize on select lease acquisition and oil and gas development opportunities with the aim to diversify and grow Cardinal's reserves base.

"We look forward to a long and prosperous relationship with Robert Levy and his company Maximilian Global. We have been building towards this significant financial event since our inception and will continue the Company's focus toward growth and the creation of long-term shareholder value", stated Timothy Crawford, CEO of Cardinal Energy.

Crawford added, "The initial financing and commitment from Maximilian Global enables the Company to acquire qualified opportunities from target companies with distressed balance sheets, in addition to new lease acreage in prime locations for subsequent new drilling development. Our strategy has been carefully constructed to remain profitable during the industry price deflation by increasing our BOPD production and revenues via shallow plays utilizing conventional vertical drilling to minimize our lifting costs. The result, is a watershed moment for the Company as we build upon our record Q4 revenues with ample capital to continue our growth through this fiscal year".

Robert Levy of Maximilian Global said, "We are impressed with the management team and historical performance at Cardinal Energy and look forward to assisting the company's growth with efficient capital solutions. We further agree with Cardinal's expansion strategy formulated to take advantage of new opportunities available as a result of the decline in the price of oil. Cardinal has avoided overleveraging itself and therefore is well-positioned to grow through additional economically viable asset acquisitions."

Cardinal Energy Group http://www.cardinalenergygroup.com

About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Dublin, Ohio and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at: http://www.cardinalenergygroup.com

Meta description:

Cardinal Energy Group is a company comprised of specialized energy experts, with over 150 years of combined industry experience in oil and gas production.

Contact details:

John May
Executive VP
Cardinal Energy Group, Inc.
jmay@cegx.us
United States
http://www.cardinalenergygroup.com
325-762-2112

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Cardinal Energy Group, Inc. welcomes John Jordan as it’s CFO. He adds years of experience to the Cardinal team, and plans to monitor the strong growth of CEGX.

Dublin, OH -- (SBWIRE) -- 06/01/2015 -- Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that John Jordan has rejoined CEGX management as Chief Financial Officer. Gary Peterson will move to the Controller position.

Mr. Jordan has over 40 years' experience as an accounting and financial services professional with an extensive background in the oil and gas and geothermal energy industries in the United States and overseas. He has held a wide variety of leadership positions in private industry, community, volunteer and service organizations. Mr. Jordan spent over 36 years with Unocal Corporation and its successor Chevron Corporation in various assignments within the Comptroller's Department. He served as Manager, Transition Accounting, where he managed the accounting function at former Unocal corporate headquarters from date of acquisition through final integration with Chevron's accounting and internal control systems. Mr. Jordan also served as Manager, Corporate Reporting, where he oversaw the preparation of SEC filing and registration statements, and reviewed and issued annual and quarterly reports and press releases. He holds a Bachelor of Science in Accounting and Business Management and a Masters of Business Administration, both from Pepperdine University.

Timothy Crawford, CEO of Cardinal Energy stated, "We welcome Mr. Jordan back. His extensive oil and gas experience adds to the strength of our accounting team. John did a superb job for us as our CFO, before he went into retirement to pursue his community service work with Disabled Veterans. We convinced him to come back to help us with our corporate filings and oversight of all CEGX's financial matters as we continue our growth in Texas."

Cardinal Energy Group http://www.cardinalenergygroup.com

About Cardinal Energy Group, Inc.
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Dublin, Ohio and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at: http://www.cardinalenergygroup.com

Contact details:

John May
Executive VP
Cardinal Energy Group, Inc.
jmay@cegx.us
United States
http://www.cardinalenergygroup.com
325-762-2112

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Cardinal Energy Group, Inc. is actively positioning itself in the market with strategic financial operations to secure the growth of it’s oil production. Along with the management team of CEGX, they expect a profitable year in 2015.

Dublin, OH -- (SBWIRE) -- 05/29/2015 -- Cardinal Energy Group, Inc. (OTCQB:CEGX) is pleased to announce it has engaged JP Fortune Group (JPF), one of North America's premier small-cap advisory firms. JP Fortune Group will assist the Company in capital market positioning, financial operations management, M&A opportunities, and strategic investor communications. JPF will implement a comprehensive equity growth strategy and execute an extensive investor relations campaign.

The Company's goal is to exploit opportunities in the financial marketplace while increasing market value for its shareholders' equity.

"We are excited to work with JP Fortune Group to expand our financial operations while increasing shareholder opportunities. We intend to strategically enhance our shareholder communications, as we believe the investor community will better appreciate the value we're creating in the marketplace," said Timothy Crawford, Chairman and Chief Executive Officer of CEGX.

"We have interviewed the management of CEGX over the past weeks. And we have watched their performance. Cardinal has a superior management team that has developed a proven growth model that is focused on producing shallow oil in Texas, which allows the Company to be profitable due to its economical lifting fees.

Consequently we are highly confident CEGX will become a significant player in the financial markets even during this industry downturn," stated Larry Fortune, Managing Partner of JP Fortune Group.

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 oil and gas production rates, and the expected demand, pricing and operating results for our oil and gas operations.

About Cardinal Energy Group http://www.cardinalenergygroup.com
Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Dublin, Ohio and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically.

Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold – it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States.

More information on Cardinal Energy Group, Inc. is available at:
http://www.cardinalenergygroup.com

Contact details:
John May
Executive VP
Cardinal Energy Group, Inc.
jmay@cegx.us
United States
http://www.cardinalenergygroup.com
325-762-2112

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm