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Hey what is this list?
Angelo, in your opinion, what is a reasonable pps that can be reached here with the current share structure in the near term?
BVTK
Cardinal Energy Group official Facebook page
https://www.facebook.com/cardinalenergygroup/
CEGX
How do you know when a mm needs shares?
CEGX: Company has posted the news on their Facebook page
https://www.facebook.com/cardinalenergygroup/posts/1031641100271253
CEGX
Article on CEGX from April 15, 2017
https://www.insiderfinancial.com/cardinal-energy-group-inc-otcmkts-cegx-is-todays-energy-focus/121307/
CEGX COMPANY PROFILE:
http://www.cardinalenergygroup.com/Cardinal-Energy-Group-Inc-Profile-2017.pdf
COMPANY WEBSITE:
http://www.cardinalenergygroup.com
CEGX
CEGX NEWS: Cardinal Energy Group, Inc. Acquires EOI Eagle Operating, Inc Assets
https://www.otcmarkets.com/stock/CEGX/news
New slide show added to website!
https://nebula.wsimg.com/8b544fcbb6f5bf5fb52c1c7e5a69eb81?AccessKeyId=D34B304F5C474C27E878&disposition=0&alloworigin=1
AEPP
Article on CEGX:
Cardinal Energy Group Inc (OTCMKTS: CEGX) Is Today’s Energy Focus
By Jarrod Wesson / in Energy & Solar, Momentum & Growth, Momentum Stocks, Stocks / on Saturday, 15 Apr 2017 02:50 AM / 2 Comments / 931 views
https://www.insiderfinancial.com/cardinal-energy-group-inc-otcmkts-cegx-is-todays-energy-focus/121307/
Cardinal Energy Group Inc (OTCMKTS: CEGX) was incorporated under the state of Nevada on June 19, 2007. Initially, it was named Koko, Ltd., but the name was changed to Cardinal Energy Group, Inc. on October 10, 2012 after the company acquired the ownership interests of Cardinal Energy Group, LLC. At the moment, the company is located at Upper Arlington, Ohio, and it is engaged in the business of acquiring, exploring, developing, and operating oil and natural gas. There are several transactions going on that make us believe that this company may be a great investment play right now. There are numerous institutional traders acquiring big stakes in the company. In this article, we will tell you reasons behind this activity. First, take a look at the chart:
Source
Business and assets of the company
Source
Cardinal Energy established a two-fold growth plan to develop oil and gas reserves. First of all, the company acquires fields with undeveloped reservoirs that show growth opportunities through drilling programs. Additionally, the company also looks for other low producing oil and gas wells located in mature fields and works with them to find new pay zones, using new technology, which has never been used previously in the area.
In the last annual report, we found out that the company owns several wells located in Texas. As of December 31, 2015, Cardinal Energy Group holds 1,381 barrels of oil equivalent, all located in Texas. The following is a list of the oil and gas fields, in which the company owns interests:
Dawson-Conway leases located in Shackelford County, Texas (85% working interest): Acquired in July of 2013 for $400,000, it consists of 41 wells on 618 acres.
Powers-Sanders lease located in Shackelford County, Texas (100% working interest ): Acquired on March 5, 2014 for $600,000, it encompasses 385 acres and 5 producing oil wells.
Stroebel-Broyles leases located in Eastland County (100% working interest): Acquired on March 6, 2014 for $75,000, it encompasses 235 acres and 32 wells.
Bradford “A” and Bradford “B” leases located in Shackelford County, Texas (93.75% working interest): Acquired on June 16, 2014, it encompasses 320 acres with 7 producing wells.
Fortune prospect located in Shackelford County, Texas (43.75% working interest): Acquired on September 2, 2014 for $80,000, it consists of five tracts of land aggregating just over 310 acres.
Bradford West (100% working interest): Acquired on December 31, 2014 for $20,000, it encompasses 200 acres.
The company noted in the annual report that it had disposed off assets mainly in 2014 in exchange for the return of shares. Additionally, in 2016, the company received $130,000 for the disposition of its regional operating complex located in Albany, Texas. The fact that the company disposed off oil and gas assets mainly in 2014 and did not report any other sale of interests in 2016 should be seen as a good factor.
Institutions are buying
What we found extremely interesting in this company is that a large amount of companies and financial institutions are becoming right now shareholders of Cardinal. We will note here the transactions that we identified, but first let us explain the rationale. We believe that buying when savvy traders such as institutions buy is a great idea.
On December 30, 2016, Meyers Associates, L.P. and Gregory R. Traina bought 300,000,000 shares of restricted common stock.
On January 24, 2017, Rockwell Capital Partners, Inc. acquired $158,419.46 in liabilities of the Company.
On January 6, 2017, Rockwell obtained 251,008,000 shares.
On August 01, 2016, UNION CAPITAL, LLC disclosed a 9.99% stake in the company (by way of conversion of a security)
On March 22, 2016, Tonaquint Inc. reported a 9.99% stake as well (warrants and convertible debt)
As noted in this article and this other article, we believe that the crude oil price will rise due to the OPEC production cuts. The market seems to agree with this rationale.
Balance sheet
Additionally, like the other oil and gas plays that we covered recently, this company shows a large amount of debt investors. These investors are most of the time the institutions cited earlier. As noted, they opted to acquire most of the time convertible securities to invest in the company’s convertible notes. These securities offer the possibility of receiving fixed payments and also can be converted to common stock if the company goes well.
This company may be extremely sexy for shareholders for another reason. The amount of retained earnings is a negative amount of $14 million. If you are a subscriber, you may know why we appreciate this number since we talk about it quite a lot. If another company decides to buy the whole company, this negative retained earnings will be tax deductible for the new created business entity.
Conclusion
Investors that are interested in following Cardinal Energy, can stay on top of things either by subscribing to our services or checking its website. Things look to be brewing judging by the recent hedge fund buying and a rebound in the price of oil. There’s also the possibility that Cardinal gets bought out due its large net operating losses and production assets. Either way, the smart money is here and retail investors should be interested in figuring out why.
We will be updating our subscribers as soon as we know more. For the latest updates on CEGX, sign up below!
Disclosure: We have no position in CEGX and have not been compensated for this article.
CEGX
Good morning! Thoughts on CEGX?
Thanks. Do you have a potential price target in mind?
DTII
Oncolix new website seems to be live
https://www.oncolixbio.com
AEPP
Look like new website is live
https://www.oncolixbio.com
AEPP
So what do you think this means?
CEGX
Couldn't they also just leave the share structure as it is and let the pps grow to $1 naturally?
CEGX
Thanks! Is there a way we can get the actual pictures from the PDF placed into the information box instead? It will be much easier to read and interpret that way. Like a screen shot. TIA!
CEGX
Yes with an awesome company profile PDF
http://www.cardinalenergygroup.com/Cardinal-Energy-Group-Inc-Profile-2017.pdf
CEGX
Could you stickie this company profile PDF?
http://www.cardinalenergygroup.com/Cardinal-Energy-Group-Inc-Profile-2017.pdf
Thanks in advance.
CEGX
Thanks. And how might they get back to those numbers in a way that is favorable to shareholders?
CEGX
Jesse can you explain why there are two different outstanding share numbers? And is this the current float?
TIA
CEGX
Also has the updated share structure
According to the PDF:
Post-Restructuring Float: 66,400,000
Common Shares Outstanding: 983,376,477 (3/31/17)
CEGX
Company profile PDF looks very good
http://www.cardinalenergygroup.com/Cardinal-Energy-Group-Inc-Profile-2017.pdf
CEGX
I'm sorry could you explain what you mean by this post? I have no clue what it means. Thanks!
CEGX
Looks like website is getting design updates and more content added
http://www.cardinalenergygroup.com
CEGX
Jesse, is it just me or does it look the the website has been updated? It looks like it's getting at least somewhat of a makeover. The slideshow of photos on the homepage is much larger than I remember it yesterday and the website just looks better overall. Thoughts?
CEGX
http://www.cardinalenergygroup.com/
Very nice bid support. Seems strong IMO.
CEGX
Thanks for your response. I find it informative. What is your price target here? And do you believe we can reach it without an RS? TIA.
CEGX
Oh. Let's delete this post then. Thanks for clarifying.
What the heck is with this 999999 bid?
Nice. Seems reasonable to me. Thanks.
DTII
Harby what is your target price?
I mean even if it is, it's still much lower than most other penny stocks IMO. And if they need the funds to start production, I think that is a positive thing. All in my opinion.
DTII
Thanks, So, in your opinion, this would be a stock to hold long for the near, mid term?
CEGX