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Cardinal Energy Group Inc. (CEGX)

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Verified Company Profile11/08/2016
Contact Info
  • 500 Chestnut Street
    Suite 1615
    Abilene, TX 79602
Business Description

Cardinal Energy Group, Inc. is an environmentally responsible independent oil and gas producer focused in north-central Texas. We are engaged in the business of acquiring, developing and operating oil and gas leases. These operations are primarily focused on properties in which we hold a leasehold interest. We may however, from time to time, offer our drilling and field development and production services to third parties. We may offer these services to other oil and gas companies on a fee basis or we may offer such services in connection with the offering of participation interests in Development Drilling Programs to accredited private investors. We are focused on growth via the development of shallow proven undeveloped reserves in or adjacent to currently producing fields, exploiting untapped â??behind the pipeâ? reserves by re-completing existing well bores in zones overlying currently producing formations and by the selected application of water flood and other secondary recovery techniques to mature but marginally producing fields throughout north-central Texas. We may enter into agreements with third party mid-sized and small independent oil and natural gas companies to drill wells and own interests in oil and natural gas properties. We also may drill and own interests without such strategic partners.

On January 5th CEGX filed an 8k giving majority control to Meyers and Traina....:

Check out their website:


On December 29, 2016, Cardinal Energy Group, Inc. (the “Company”) filed a Form 8-K in which it reported, in part, that it had 95,429,557 shares of common stock issued and outstanding. On or about December 30, 2016, the Company issued to each of Meyers Associates, L.P. (“Meyers”) and to Gregory R. Traina (“Traina”) 150,000,000 shares of its restricted common stock in connection with placement agent and other services rendered to the Company, resulting in a total issuance of 300,000,000 shares of restricted common stock.


The issuances of the above shares were exempt from the registration requirements of Section 5 of the Securities Act of 1933 (the “Act”) pursuant to Section 4(a)(2) thereto not involving a public offering. Following the issuances and as of the date of this filing, the Company has a total of 395,429,557 shares of common stock issued and outstanding.


ITEM 5.01 Changes in Control of Registrant.


The issuance of the 300,000,000 million shares of common stock described in Item 3.02 above results in Meyers and Traina, collectively acquiring voting control of the Company, holding 59.36% of the voting power of all shares of capital stock outstanding. After the issuance of the new 300,000,000 shares of common stock, the Company has 395,429,557 shares of common stock and 1,000,000 shares of Series A Preferred Stock issued and outstanding, respectively. Each share of Series A Preferred Stock has voting rights equal to 110 votes per share. As a result of the transaction, the total outstanding voting power of the Company is 505,429,557 shares, with the new 300,000,000 shares of common stock representing 59.36% of the voting power of all shares of capital stock outstanding.



O/S as of 3-2-2017 is 983,376,477

 STOCK SYMBOL: CEGX.OB CUSIP: 14150H101 FOUNDED: June 19, 2007 FEIN: 26-0703223
DUN & BRADSTREET: 03-274-4585 INDUSTRY: Energy
SECTOR: Oil & Gas
SIC CODE: 1382
CEGX of Texas, LLC – #140712 Wholly Owned Subsidiary
WEB SITE: CONTACT INFORMATION: Timothy W. Crawford, CEO 325-762-2112
An experienced oil & gas operator specializing in the exploitation of stranded assets with operational efficiency.
Business Model
The upside Cardinal seeks in a prospect is twofold:
1. Potential to significantly increase current production volumes using newer technology and modern production methods.
2. Must have additional lease acreage and/or substantial “behind
the pipe” undeveloped reserves which can be exploited by
selective re-completions of existing wells or by the drilling of
additional developmental oil and gas wells. 130
Cardinal also seeks acquisitions of oil and gas leases from over- leveraged companies when there is a clear upside from their purchase based on low development and “lifting” costs.
?Continue the installation of the water flood program at the Bradford “A” & “B” leases in Shackelford County
?New well development of prospects in Archer and Young counties
?Work-overs, farm-ins, and lease sale opportunities
?Purchase and develop additional Texas assets with a focus on the Permian Basin.
 Cardinal Energy Group, Inc. (OTCQB: CEGX) is a U.S. producer of oil and natural gas. Cardinal focuses on developing shallow proven undeveloped reserves in or adjacent to currently producing fields. We target untapped reserves via in-field development drilling and the selective application of water flood programs. Our operations are primarily focused on properties in which we hold a leasehold interest. On occasion we offer our drilling and field development and production services to third parties. Company’s operations are focused in Central Texas.
 Year Founded
Fiscal Year End
Common Shares
Outstanding (3/31/17)
Current Price
52-Week Price
Common Shares Outstanding
Post-Restructuring Float
Many oil reserves in the U.S. are stranded - These neglected assets are Cardinal Energy’s opportunity
These fields still have vast reserves that can be recovered
?Cardinal Energy Group follows a plan that focuses on developmental drilling and selected re- completions of oil & gas wells located within mature fields.
? The Company applies modern production theory and advanced technology to increase production from leases that are either nonproducing or are only marginally producing.
?Modern theory and technology enables these stranded reserves to be produced with minimal capital and production costs thereby extending the economic lives of the fields.
Wells drilled during the boom of the 1980’s have been ‘left behind’
2007 December 31
983,376,477 $.0021
$.0007- $.012
83,000,000 66,400,000
 Investors and readers are cautioned that certain statements contained in this presentation, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about Cardinal Energy Group, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates “, or similar expressions.
    The Focus of Cardinal Energy Group
Shackelford County, Texas Dawson-Conway
40 Oil Wells on 402 Acres
5 Oil Wells on 385 Acres
Bradford A and B
21 Oil wells on 320 Acres
Full implementation of water flood project.
3 New Wells Drilled
Archer County, Texas Loftin D, E, AG3
28 Wells on 610 Acres
Remediate Existing Wells Re-Stimulate Formation Zones Implement water flood
Archer County, Texas Falls County Lease
5 Wells on 100 Acres
Remediate Existing Wells 10 New Wells Drilled
Prideaux A
5 wells on 50 acres
Remediate Existing Wells 3 New Wells Drilled
Young County, Texas E. R. Prideaux
2 wells on 55 acres PLAN:
Remediate Existing Wells 8 New Wells Drilled
We acquire
significant, proven undeveloped reserves that provide growth opportunities through new infield drilling programs.
We increase production through in-field development drilling and the application of economical secondary recovery methods. In addition, modern re-completion and fracturing technologies make it economically possible to re-enter and recover stranded reserves from older wells.
We have focused our operations in north- central Texas. These properties feature simple well completions which typically produce from relatively shallow (in most cases from 400 ft. to 2,000 ft. below the surface) reservoirs resulting in lower development costs and lower lifting costs.
producing fields with
? Seasoned Oil&Gas Team-with decades of combined experience in the industry
? StrongFinancialFounder-TimothyCrawford
? CurrentIncomeStream-fromproducingwells
? Future Income Stream-from producing wells and fees from production and development services
? Stable Financial Strategy - strong oil and natural gas reserves
? AttractiveExit-PublicCompany
Timothy W. Crawford, CEO/Director - Since 2012, Mr. Crawford has been CEO, member of the board of directors and in January 2013, Mr. Crawford was elected President. Mr. Crawford was the Managing Partner of Northstar Capital, Columbus, Ohio from 2009 – 2012. Northstar Capital is a private corporation engaged in business consulting. From 2009 to 2011, Mr. Crawford was served as the EVP/Co-Founder of Manx Energy, Inc. a private company located in Overland Park, Kansas. Manx Energy is engaged in the business of oil and gas production. He was responsible for investor relations, business development, and acquisitions. From 2009 to 2011, he was a Co-founder/Director of Continental Energy, LLC, a private company located in Columbus, Ohio. Continental Energy was engaged in the business of oil and gas production. Continental merged with Cardinal Energy Group, and is a wholly owned subsidiary. From 2007 to 2009, Mr. Crawford was CEO/Chairman of the Board/Co-founder of Capital City Energy Group Inc., a public company traded on the OTCBB under the symbol CETG. The company is engaged in the business of oil and gas production and an oil and gas fund manager.
Paul Carlisle, President/COO/Director – In early 2008, Mr. Carlisle, 42, founded Carlisle USA Energy Company. The purpose was to seek out working interest in existing and new drilling ventures with some of the largest operators in the oil and gas industry. Drawing on almost 10 years of experience helping grow several startup oil and gas companies in Texas, Mr. Carlisle wanted to put his skills to work for the public. He sought out acreage and working interest with BP American, Apache Corporation and XTO Energy to name a few, allowing his partners an opportunity to participate with major operators directly in their projects. After almost 5 years of growing Carlisle USA Energy Mr. Carlisle opened EOI Eagle Operating to capitalize on the ferocious appetite for oil in early 2012. With a strong understanding of AFE’s, Joint Operating Agreements and land man work. EOI secured contracts from local oil and gas companies in the Dallas, Fort Worth area. EOI can turn key entire projects from prospecting and obtaining leases through the planning and drilling phases and finally the completion and day to day operations. EOI owned and operated its own drilling rig in the early years and to this day still owns and operates several service rigs along with all the necessary equipment to service almost any shallow well within a 150-mile radius of its yard. Mr. Carlisle holds a BBA from the University of North Texas in Decision Sciences with a focus on Statistical Analysis in Data Mining and Data Warehousing.
John R. Jordan, Director – On May 27, 2015, the Board of the Company appointed John Jordan, then age 68, its Chief Financial Officer, a member of the Company’s Board and Chairman of the Audit Committee, effective June 1, 2015. Mr. Jordan had previously served as the Company’s Chief Financial Officer from January 2014 until September 2014, when he retired to pursue community service work. On March 17, 2017 Mr. Jordan resigned from his position as an officer of the Company, but continues to serve as a Director. From 1970 through 2006 Mr. Jordan was engaged in the financial reporting for the production of oil, gas and geothermal energy with Unocal Corporation and its successor Chevron Corporation. He performed management and transitional accounting for Unocal’s corporate headquarters, from the date of acquisition by Chevron through the final integration with Chevron’s accounting and internal controls systems. He provided the governance over the reporting and valuation of proved oil and gas reserves for the former Unocal properties in keeping with SEC rules and best practices of both firms. During the pre- and post-acquisition of Unocal he managed the preparation of SEC filings and registration statements: and jointly with company law and investor relations departments, reviewed and issued Annual and Quarterly reports, press releases, and other disclosures to the public.

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Current Price
Bid Ask Day's Range
CEGX News: Cardinal Energy Group, Inc. Acquires EOI Eagle Operating, Inc Assets 04/20/2017 11:39:00 AM
CEGX News: Cardinal Energy Group, Inc. Appoints Capital City Securities Placement Agent for $4,600,000 Series D Preferred Stock Offering... 04/12/2017 03:34:00 PM
CEGX News: Current Report Filing (8-k) 03/31/2017 03:35:23 PM
CEGX News: Current Report Filing (8-k) 03/22/2017 02:39:01 PM
CEGX News: Current Report Filing (8-k) 01/30/2017 03:23:51 PM
#13696  Sticky Note Cardinal Energy Group, Inc. Acquires EOI Eagle sim2010 04/20/17 01:24:21 PM
#12807  Sticky Note NEW DD APRIL 11 2017 CEGX jessejames001 04/11/17 09:07:08 PM
#11823  Sticky Note All those "wells" are pluggers and have produced tdbowieknife 04/06/17 10:44:26 PM
#11735  Sticky Note CEGX DD COMPILED: On 1-5-2017 an 8-K was RLBTrader 04/06/17 07:17:30 PM
#14378   TD is so heavy in shorts in CEGX kanola 04/28/17 12:01:59 PM
#14377   I just hope they get burned! LOL. Lots BillionaireBoy 04/28/17 11:38:53 AM
#14376   Thanks for sharing jessejames001 ... :) Gooddolphin 04/28/17 11:34:54 AM
#14375   Or at least Starwood lol DallasInvest 04/28/17 11:25:27 AM
#14374   Dang it, I was hoping a Preston Hollow Johnny26 04/28/17 11:24:15 AM
#14373   Let's just say it's a niceish house but DallasInvest 04/28/17 11:19:56 AM
#14372   Did you notice any rigs in the back Johnny26 04/28/17 11:17:07 AM
#14371   Yea, no it's all good come around back :) JackAskSlap 04/28/17 11:14:41 AM
#14370   I was confused on if it's ok to DallasInvest 04/28/17 11:12:56 AM
#14369   lol.. JackAskSlap 04/28/17 11:12:16 AM
#14368   I did it's a house DallasInvest 04/28/17 11:11:34 AM
#14367   D-town back in the house!! Why don't Johnny26 04/28/17 11:11:11 AM
#14366   It's certainly a highly fluid and dynamic situation. Johnny26 04/28/17 11:00:41 AM
#14365   I like to see how people are quick BitInvest 04/28/17 10:57:01 AM
#14364   Next week, next week, next week lol DallasInvest 04/28/17 10:46:41 AM
#14363   Why would an investor that knows little about kanola 04/28/17 10:38:33 AM
#14362   I've heard in some cases the tortiuous inteference kanola 04/28/17 10:32:06 AM
#14361   I'm certain they have individuals ready to interfere dloggold 04/28/17 10:10:18 AM
#14360   Right I hope this stock succeeds and shortie dloggold 04/28/17 10:08:27 AM
#14359   I've been following these types of plays for kanola 04/28/17 10:04:23 AM
#14358   Speaking of envoys I wonder if individuals will Bum713 04/28/17 10:03:19 AM
#14357   It looks like another big day is ahead Pierretp 04/28/17 09:57:53 AM
#14356   so sounds like no news until filings are MJAM2020 04/28/17 09:54:28 AM
#14355   Yes the NSS crew has invaded here due dloggold 04/28/17 09:51:54 AM
#14354   Yes sir NSS are scared when a company Bum713 04/28/17 09:45:20 AM
#14353   I sense panic out there in NSS Land. kanola 04/28/17 09:39:39 AM
#14352   Most certainly BUM .... All investors should do kanola 04/28/17 09:36:35 AM
#14351   That means load up today if the MM's BillionaireBoy 04/28/17 09:29:41 AM
#14350   Kanola maybe people on message boards will tax Bum713 04/28/17 09:27:23 AM
#14349   Going to have good day here :) Doubledown75 04/28/17 09:26:43 AM
#14348   NEW EMAIL FROM CEO CRAWFORD APRIL 28 2017 jessejames001 04/28/17 09:25:36 AM
#14347   Good Lord. I am not a finacial advisor. kanola 04/28/17 09:20:28 AM
#14346   LOL ... I was thinking the same thing kanola 04/28/17 09:16:03 AM
#14345   I'm feeling that. Nice base developed. Worth a sincityboy 04/28/17 12:41:54 AM
#14344   Big wheel of business CEGX. Better than unhealthy growth! sincityboy 04/28/17 12:30:10 AM
#14343   Here you go. It's an earlier post I Chaffinj1111 04/28/17 12:27:35 AM
#14341   Maybe because in the last month and a Chaffinj1111 04/28/17 12:23:21 AM
#14340   CEGX is looking great your right!!..I would think MJAM2020 04/27/17 11:07:30 PM
#14339   Yes! your right again...I wouldn't put CEGX and MJAM2020 04/27/17 11:05:56 PM
#14338   yes agreed! you make many many good points! MJAM2020 04/27/17 11:04:40 PM
#14337   Why would an investor that knows little about tdbowieknife 04/27/17 10:40:58 PM
#14336   That has absolutely nothing to do with CEGX tdbowieknife 04/27/17 10:39:15 PM
#14335   Well, I happen to know professionals that say kanola 04/27/17 10:36:22 PM
#14334   Really ..... kanola 04/27/17 10:34:44 PM
#14333   There can never be any oil produced from tdbowieknife 04/27/17 10:31:46 PM
#14332   How does an oil well potential test that kanola 04/27/17 10:28:34 PM
#14331   I hear the SEC may already be investigating tdbowieknife 04/27/17 10:28:17 PM
#14330   Beer $$, no worries ... CEGX will over kanola 04/27/17 10:19:51 PM
#14329   Is the link available to real estate values kanola 04/27/17 10:17:00 PM
#14328   So Henry Klein is just an attorney hired kanola 04/27/17 10:07:43 PM