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Cardinal Energy Group Inc. (CEGX)

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http://www.cardinalenergygroup.com/
 
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....:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11768738

Check out their website:

http://www.meyersassociateslp.com/

 

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.

 

update:

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
TEXAS OPERATOR:
CEGX of Texas, LLC – #140712 Wholly Owned Subsidiary
WEB SITE: www.cegx.us www.cardinalenergygroup.com CONTACT INFORMATION: Timothy W. Crawford, CEO tcrawford@cegx.us 325-762-2112
SELECT FINANCIALS
OTCQB: CEGX
COMPANY OVERVIEW
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.
GROWTH STRATEGY
?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.
MARKET OPPORTUNITY
1,922
?
 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
(3/31/17)
52-Week Price
Range
$$.0$$$$1.55
Post-Restructuring
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
CURRENT PROSPECTS
Shackelford County, Texas Dawson-Conway
40 Oil Wells on 402 Acres
Powers-Sanders
5 Oil Wells on 385 Acres
Bradford A and B
21 Oil wells on 320 Acres
PLAN:
Full implementation of water flood project.
3 New Wells Drilled
ACQUISITION PROSPECTS
Archer County, Texas Loftin D, E, AG3
28 Wells on 610 Acres
PLAN:
Remediate Existing Wells Re-Stimulate Formation Zones Implement water flood
Archer County, Texas Falls County Lease
5 Wells on 100 Acres
PLAN:
Remediate Existing Wells 10 New Wells Drilled
Prideaux A
5 wells on 50 acres
PLAN:
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
INVESTMENT HIGHLIGHTS
? 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
MANAGEMENT TEAM
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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CEGX News: Current Report Filing (8-k) 09/26/2017 06:06:01 AM
CEGX News: Current Report Filing (8-k) 08/08/2017 06:06:22 AM
CEGX News: Current Report Filing (8-k) 08/04/2017 03:00:20 PM
CEGX News: Quarterly Report (10-q) 07/31/2017 04:43:42 PM
CEGX News: Quarterly Report (10-q) 07/26/2017 11:58:04 AM
PostSubject
#17260  Sticky Note Na... This is what's funny. tdbowieknife 12/08/17 07:17:23 PM
#17396   Funny how quiet it is around here....No senseless HeadHunter 01/17/18 11:58:20 AM
#17395   Same as you. Patients and technical. Fairtrader555 01/12/18 12:16:50 PM
#17392   Yeah yeah yeah Oil $64 $CEGX CEGX Fairtrader555 01/11/18 03:55:47 PM
#17391   potential pincher play setting up on the charts. DavidTrader 01/11/18 02:38:15 PM
#17390   What happened here today? Whitebelt 01/10/18 04:28:14 PM
#17389   charts show run to .003 to .004? hope so,, scaptrader1297 01/10/18 01:59:45 PM
#17387   gotta think news pending?? scaptrader1297 01/10/18 01:52:29 PM
#17386   That's a great price.. I received $54.57 per 1oil guy 01/09/18 10:19:50 PM
#17385   Oil selling price $70 better than $63.50. You Fairtrader555 01/09/18 09:42:44 PM
#17384   Yeah bitcoin is soaring but we don’t any DallasInvest 01/09/18 09:14:28 PM
#17383   Doesn't mean CEGX knows how to do anything JPROBIN 01/09/18 07:01:46 PM
#17382   Oppp.... Oil $63 Yeah please check with the Fairtrader555 01/09/18 02:31:07 PM
#17381   LMAO....I mean it's pretty close WB. These crusty HeadHunter 01/09/18 12:22:24 PM
#17380   How long until CEGX is like PGPM??? Whitebelt 01/09/18 11:50:12 AM
#17379   can we PLEASE HAVE AN UPDATE PRETTY PLEASE$$$ BAG IT 01/07/18 06:32:53 PM
#17378   We have been told over and over news JPROBIN 01/03/18 03:48:00 PM
#17376   Calculations? What are they calculating? The financials that InvestorVeritas 01/02/18 04:24:14 PM
#17375   Happy New year to $ CEGX shareholders (buyer Fairtrader555 01/02/18 11:00:24 AM
#17373   There was suppose to be news... And filings tdbowieknife 01/01/18 12:52:33 AM
#17372   Happy New year to $CEGX Millionaire,time for Harvest. Fairtrader555 12/31/17 06:53:39 PM
#17371   Now they just need oil! DallasInvest 12/29/17 10:08:30 PM
#17370   crude above $60,, winds picking up,,,, abrois 12/29/17 03:26:33 PM
#17369   Hi $ CEGX shareholders tax loss sell is Fairtrader555 12/28/17 11:29:49 PM
#17368   Yes, we all want some potential for extraordinary sincityboy 12/28/17 11:29:18 PM
#17367   2018 almost here to release news, waiting for trumpalingus 12/28/17 10:38:36 AM
#17366   Like I said .0005 not too far away Crystalballz 12/28/17 10:31:44 AM
#17365   Trump signs executive order to expand critical minerals production,,, abrois 12/27/17 04:10:06 PM
#17364   Thanks Atlanta. I hear Ya and yes I HeadHunter 12/27/17 01:23:58 PM
#17363   Man and I thought I had a lot HeadHunter 12/27/17 12:48:06 PM
#17362   Looks like Tax loss selling! BillionaireBoy 12/27/17 12:26:48 PM
#17361   yes, but opportunity to buy on this scaptrader1297 12/27/17 11:58:44 AM
#17360   last dip buy way oversold.. scaptrader1297 12/27/17 11:42:34 AM
#17359   Daaaaaamn DOWN %56 Looks like someone dumped HeadHunter 12/27/17 11:41:50 AM
#17356   $CEGX keep close all the time, must be Fairtrader555 12/26/17 12:48:07 PM
#17355   To all the $CEGX shareholders Merry Christmas and Fairtrader555 12/24/17 08:48:43 PM
#17354   merry xmas, ,,, abrois 12/24/17 02:17:17 PM
#17352   That makes more sense... Yep, they are nothing tdbowieknife 12/22/17 10:35:09 AM
#17351   Sorry for the confusion, I don't know any InvestorVeritas 12/22/17 09:46:00 AM
#17350   Ok... Would you know any details? Then the tdbowieknife 12/22/17 08:19:29 AM
#17349   Guy Julaine got screwed over by CEGX. InvestorVeritas 12/21/17 11:09:05 PM
#17348   Opppp! $CEGX drop down -20% and going up Fairtrader555 12/21/17 10:38:19 PM
#17346   GUY, JULAINE. Operator number 339625. Here is a tdbowieknife 12/21/17 06:21:36 PM
#17344   What is the name of the new operator InvestorVeritas 12/21/17 01:47:40 PM
#17339   CEGX said they are waiting until "At least InvestorVeritas 12/20/17 11:32:13 AM
#17338   When this YUUUGE PR coming out??? Whitebelt 12/20/17 10:14:33 AM
#17336   $ CEGX nice buy go up 5.88% Fairtrader555 12/19/17 04:01:34 PM
#17334   Well because we are tired of lies and InvestorVeritas 12/19/17 11:37:30 AM
#17333   It will only do that if they sell HeadHunter 12/19/17 08:52:08 AM
#17332   The TRRC should be made aware that EOI tdbowieknife 12/19/17 08:26:09 AM
#17331   Wow Wow Wow.......why suddenly so many bad news Fairtrader555 12/19/17 06:25:44 AM
PostSubject