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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.

Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
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  • 5Y
CEGX News: Quarterly Report (10-q) 07/26/2017 11:58:04 AM
CEGX News: Current Report Filing (8-k) 05/05/2017 05:20:51 PM
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
News News Alert: Quarterly Report (10-q) 07/26/2017 11:58:04 AM
#16171  Sticky Note Here are the 20 wells CEGX has being jessejames001 06/27/17 09:19:51 PM
#14464  Sticky Note Crawford telling "investors" that CEGX operating is in tdbowieknife 05/01/17 08:38:25 PM
#13696  Sticky Note Cardinal Energy Group, Inc. Acquires EOI Eagle sim2010 04/20/17 01:24:21 PM
#16655   Yeah... 10 barrels a month. tdbowieknife 07/27/17 10:36:06 AM
#16654   Bid-keeps-GROWING:Little-on-Ask-under.003/so No-shares-to-sell-bidders:They've gotta slap the Ask + Euripides90 07/27/17 09:53:50 AM
#16653   Not one word about the TRRC regulatory issues... tdbowieknife 07/27/17 09:08:38 AM
#16652   Oil futures are up. This would be Pierretp 07/27/17 08:58:40 AM
#16651   QUOTE FROM 10-Q jessejames001 07/27/17 12:32:23 AM
#16650   PLEASE READ. jessejames001 07/26/17 11:32:54 PM
#16649   keep up the good insite JJ,,, there r abrois 07/26/17 09:30:01 PM
#16648   WE all knew that CEGX would report huge BillionaireBoy 07/26/17 07:21:33 PM
#16647   JJ, thanks for the words of encouragement. Pierretp 07/26/17 05:27:54 PM
#16646   WORDS FROM CRAWFORD jessejames001 07/26/17 05:11:08 PM
#16645   CEGX IS MOVING FORWARD AS PLANNED. EXPECT THE jessejames001 07/26/17 05:06:40 PM
#16644   Some things take time, don't be grumpy because jessejames001 07/26/17 05:02:57 PM
#16643   Ok, Bud, we will see....... jessejames001 07/26/17 04:26:25 PM
#16642   Come on Crawfords!!!! We know you got wells.... Doubledown75 07/26/17 04:04:57 PM
#16641   You've been touting this thing now for several mackie1 07/26/17 04:04:33 PM
#16640   almost 15 mil on bid, nothing on ask. jessejames001 07/26/17 03:27:45 PM
#16639   cegx on the rt track setting up nicely!!$$$$$$$$ BAG IT 07/26/17 03:14:02 PM
#16638   Just short-manipulation b/c with-the-filings-we've-been-waiting-for,this will S Euripides90 07/26/17 02:54:30 PM
#16637   Resistance is thin. Just a few shares Pierretp 07/26/17 02:34:39 PM
#16636   Down big on heavy volume. Not good... mackie1 07/26/17 02:18:53 PM
#16635   Good thing I escaped yesterday. May return when mackie1 07/26/17 02:17:13 PM
#16634   WTF!:) fh6282 07/26/17 02:12:11 PM
#16633   SELLING HAS DRIED UP...SMACK THE ASK PEOPLE. jessejames001 07/26/17 01:55:20 PM
#16632   I'm good. I'm just glad we are sin vester 07/26/17 01:28:20 PM
#16631   $$$$$$$$$$$$$$$$wow just got some .0019 ready to rip BAG IT 07/26/17 01:25:43 PM
#16630   lets see how she goes over the next jessejames001 07/26/17 01:25:20 PM
#16629   My man. Thanks sin vester 07/26/17 01:11:39 PM
#16628   Bids are building strong, afternoon RIP coming. jessejames001 07/26/17 01:09:08 PM
#16627   nope, this thing is on the ropes getting Crystalballz 07/26/17 01:08:50 PM
#16626   When the PR's follow and the skull and jessejames001 07/26/17 01:07:46 PM
#16625   Do u think we will see a penny sin vester 07/26/17 01:06:18 PM
#16624   might hit 4's today jessejames001 07/26/17 12:51:52 PM
#16623   Common stock, 100,000,000 shares authorized at par value dukelasilvertbird 07/26/17 12:48:50 PM
#16622   Yes Sir, things are looking up. dukelasilvertbird 07/26/17 12:39:36 PM
#16621   HERE WE GO GET READY TO RIP. NITE jessejames001 07/26/17 12:38:03 PM
#16620   BIDS ARE BUILDING AND CLIMBING, ITS GOING TO RIP....... jessejames001 07/26/17 12:33:14 PM
#16619   MM's want to load, we should go up jessejames001 07/26/17 12:28:38 PM
#16618   Hope so. eom dukelasilvertbird 07/26/17 12:24:34 PM
#16617   MM's bringing it down on news, should dip jessejames001 07/26/17 12:22:16 PM
#16616   Thanks Jesse! Let's do this!!!$$$ Whitebelt 07/26/17 12:20:27 PM
#16615   something must suck. dam dukelasilvertbird 07/26/17 12:20:05 PM
#16614   10-q is out, others are going to follow, jessejames001 07/26/17 12:15:53 PM
#16613   All of them? Whitebelt 07/26/17 12:11:58 PM
#16612   FILINGS OUT......... jessejames001 07/26/17 12:10:45 PM
#16611   sneaking up to $50,,,, plus a cushy consoladation abrois 07/25/17 05:06:22 PM
#16607   Pathetic aint the word... mackie1 07/25/17 10:39:35 AM
#16606   Spoke via phone, email, telegraph? stolles8 07/25/17 09:56:51 AM
#16605   Yeah right. We have heard that before. Upset Wookie 07/25/17 08:42:54 AM
#16604   still waiting for a higher crude $$$!$ abrois 07/24/17 08:43:53 PM
#16603   Has anyone talked to Crawford or is this Mrstocktrader472 07/24/17 06:51:54 PM