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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: 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
CEGX News: Current Report Filing (8-k) 03/22/2017 02:39:01 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
#12807  Sticky Note NEW DD APRIL 11 2017 CEGX jessejames001 04/11/17 09:07:08 PM
#15543   Realistically next week would be good too after sin vester 05/23/17 12:29:39 PM
#15542   i think this friday will determine the life Crystalballz 05/23/17 12:25:16 PM
#15541   Dont know, I hope something pops up. I jessejames001 05/23/17 11:43:08 AM
#15540   My prediction this week is more red than mackie1 05/23/17 11:33:35 AM
#15539   I guess no fillings this week again !? iamiman1 05/23/17 11:23:07 AM
#15538   Nice bid support! PenniesGoneWild 05/23/17 11:16:04 AM
#15537   Thanks, it has been a team effort. Lots jessejames001 05/23/17 11:15:58 AM
#15536   CEGX!! yes they are ... nice to MJAM2020 05/23/17 11:15:18 AM
#15535   ya, been here for a bit. jessejames001 05/23/17 11:15:14 AM
#15534   So much for nontoxic funding waytoorandom 05/23/17 10:53:33 AM
#15533   Shares are getting hard to come by in Gee1810 05/23/17 10:03:01 AM
#15532   my prediction this week No Filings No PR magicnite 05/23/17 06:30:21 AM
#15531   CEGX.. this thing doesn't have billions of shares MJAM2020 05/23/17 01:08:28 AM
#15530   Yet another red day. Pathetic. mackie1 05/22/17 10:38:28 PM
#15529   625 Berksdale Rd, Suite 113 tdbowieknife 05/22/17 09:32:55 PM
#15528   Has anyone actually talked to the accountant firm? backyards 05/22/17 09:06:37 PM
#15527   start another leg up abrois 05/22/17 08:11:32 PM
#15526   The new Accountant was retained to do the tdbowieknife 05/22/17 07:17:09 PM
#15525 s a pretty big word..would be nice..that MJAM2020 05/22/17 04:44:29 PM
#15524   They've engaged a new accounting firm to get Euripides90 05/22/17 11:49:05 AM
#15523   Yes that's what I'm hearing. Stock has settled vulken17 05/22/17 10:58:53 AM
#15522   Did Crawford actually state that filing should hit zcolman69 05/22/17 09:49:17 AM
#15521   Ignition soon. This is how MME? and DOL? Al3xJ0nes 05/22/17 09:37:58 AM
#15520   The Arabs are buying CEGX! Just kidding, you guys waytoorandom 05/22/17 09:29:30 AM
#15519   Load $CEGX at these levels before filings drop vulken17 05/22/17 08:13:38 AM
#15518  Restored You have done some nice DD here. Great job! PenniesGoneWild 05/21/17 09:07:00 PM
#15517   Yeah... It's only been a year so far. tdbowieknife 05/21/17 09:05:24 PM
#15516  Restored You have been here longer than I have, PenniesGoneWild 05/21/17 09:04:19 PM
#15515   Good that he's not wordy. Let the filings PenniesGoneWild 05/21/17 09:02:53 PM
#15514   Me too... Can't wait. tdbowieknife 05/21/17 09:02:25 PM
#15513   Me also. Shouldn't be much longer IMO jessejames001 05/21/17 09:00:35 PM
#15512   Looking forward to those filings. PenniesGoneWild 05/21/17 08:59:26 PM
#15511   6 barrels for the month of March or tdbowieknife 05/21/17 08:56:45 PM
#15510   lol...there is more to a company than gallons. PenniesGoneWild 05/21/17 08:54:54 PM
#15508   Those "assets" are producing 8 gallons a day... tdbowieknife 05/21/17 08:47:45 PM
#15507   same here - reiterated the same thing...not spending stolles8 05/21/17 08:02:55 PM
#15506   Crawford responded to my email as well. Bly967 05/21/17 06:10:31 PM
#15504   Yes, the assets were a big help and PenniesGoneWild 05/21/17 02:32:48 PM
#15503   Thanks for sharing that with us JJ! beer$$money 05/21/17 01:57:43 PM
#15502   Yes CEGX will run just like that other beer$$money 05/21/17 01:56:25 PM
#15500   Going to be EPIC. I am expecting to jessejames001 05/21/17 01:52:54 PM
#15499   CEGX is not my first stock . Look jessejames001 05/21/17 01:49:59 PM
#15498   I'm certain it Might have more to do beer$$money 05/21/17 01:36:41 PM
#15497   So he is a promoter. The alias is DallasInvest 05/21/17 01:21:12 PM
#15496   Well I know JJ and I can promise beer$$money 05/21/17 01:19:03 PM
#15495   Cardinal Energy Group, Inc (“Cardinal Energy” or beer$$money 05/21/17 01:16:06 PM
#15493   Well said Beer$$ ..... Investors can buy Apple, kanola 05/21/17 12:42:59 PM
#15492   Without Risk there is no reward! CEGX solid beer$$money 05/21/17 12:34:17 PM
#15491   Cardinal Energy Group, Inc. Acquires EOI Eagle Operating, Wishful Thinking 05/21/17 12:33:15 PM
#15490   Yep filings hit and easy penny test. What Wishful Thinking 05/21/17 12:32:46 PM