Exposing the BS!!
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Why are you telling people to check Cardinal's Facebook page when they took it down 5 days ago? So therefore, Douglas is not listed on their FB page, since it does not exist. He is not listed on Cardinal's website either.
COO- Paul Carlisle and CEO- Stan Ford. The ex CEO Tim Crawford is now doing “consulting”(who know what this specifically means) for CEGX.
Agreed. Their first step is to quit lying.
Everyone has heard "next week" so many times it means absolutely nothing. Its laughable at this point. CEGX do yourselves a favor and quit telling investors there will be PRs and completed financials "next week" when you know damn well you have no idea what is going on.
Cardinal shut down their Facebook page. Lol!
The past couple of days I watched several people post hundreds of funny memes/comments on their facebook page calling out Cardinal because they won't answer simple questions and the promised PR never showed up.
And there you have it Cardinal enthusiasts... this is the same Cardinal Energy who refuses to address share holders, refuses to answer simple questions or keep a simple promise. This same pattern has been repeated for the past couple years. They are all about the flash and hype, but have no substance!
The question of the day
Will the following statement: "There will be a press release sent out next week" become just become one of the many many false statements made over the past year? Still no filings or PRs. "Next week" is running out of time.
Don't worry. There will always be next week and the week after that or the week after that a one. Its amazing that people running the show at Cardinal literally lie and cannot make a statement that becomes true.
Been waiting years for a PR with actual substance.... only 19.5 hours remaining for the famous response of “there will be a press release sent out next week” to be said and no news is released.
Facts!!!
All EXCELLENT questions that Cardinal Energy management refuses to answer. These questions have been posted on their Facebook page and they refuse to answer the questions or they delete them.
Call Stan Ford and ask how they can pay for offices with zero capital and zero revenue. 1-604-687-5257
Tim Crawford's Oil and Gas Track-Record:
Capital City Energy Group: Symbol- CETG
2007-2009 Dumpster fire company #1. Lost 9.3 million dollars in 2008 and has continued to lose hundreds and thousands of dollars since. Current stock price is $0.003 per share. (See the link).
http://financials.morningstar.com/income-statement/is.html?t=CETG®ion=usa&culture=en-US
Continental Energy
2009-2011 Dumpster fire company #2. Company purchased garbage oil wells and tried to remediate them. The wells only produced water, sand and minimal oil. Company did nothing and no money was made. The garbage wells/company was rolled into Cardinal Energy Group.
Cardinal Energy Group: Symbol - CEGX
2011-2017 Dumpster fire company #3. Company purchased garbage oil leases and has successfully lost every oil lease due to non production or lawsuits. Cardinal has blows through 9 million+ dollars of investors money on god knows what and has nothing to show for it. Cardinal currently has no money, lots of lawsuits and has successfully lost its ability to pump or sell oil in the state of Texas.
Good company based on what? The charts? Look at the financials and bank account its all zeros and negative numbers!
As far as the actual company is concerned, its a giant dumpster fire with no oil leases, no capital and a pile lawsuits.
Call the CEO Stan Ford's office in Vancouver, British Columbia. He will tell you he was tossed into a disaster and the company has NO money. 1-604-687-5257
I've been prepared for anything of legitimate substance for years.... and years..... Still waiting....
The press release is going to probably announce CEGX is redecorating the new office with new carpet, paint and office furniture.
I wonder how much money was wasted on other non-essential business activities? I'm sure the OSU bowl game extravaganza weekend was not a cheap weekend! CEGX had 8 million dollars for project investments and the fact that CEGX currently has ZERO working wells that actually pump oil for a profit is absolutely RIDICULOUS! You have to really TRY to screw that up!
It also makes you wonder since Tim was wasting lots of money on bowl games, how many hundreds and thousands of dollars of Tim's house upgrades are hidden in CEGX's 1.1 Million dollars of "General Administrative" expenses on their 2015 income statement?
But.....But....But.... They have a new nice office!! Oil is $51/barrel, and CEGX posted random aerial oil field "prospects" on their website!! "Big things are coming!!!"
I agree Pierretp CEGX has potential, but their actions show otherwise. How do you expect the stock price to go up when they cannot pump or sell oil? Thats their core business based on what their management is quoted saying to investors. CEGX thinks their stock should be worth $2.00+...Lol! Based on what?? Their core business cannot function, the Texas Railroad Commission has revoked their rights.
Unfortunately, I've been invested in CEGX and following this stock for 4-5 years. I want to get my investment back, but they are doing nothing to become compliant with the TRC or stop land owners from suing for non production/expired oil leases. CEGX doesn't even show up for court! Lol! There is nothing new going on its the same circus with different faces. They have literally have done nothing except act like they are working hard, lose millions, disappoint, mislead and lie to investors.
If you have actual evidence showing otherwise please inform us.
Lol... I agree 100% Tdbowieknife!
My first question was: why isn't there any information included with the "prospect" pictures. This means absolutely nothing!
CEGX is not a start up or a new company. They have been around since 2012 and at one point had a stock price of $1.50/share. Their current stock price is .0021/share. Does this look a good company to you??
Shady management and poor decisions have completely destroyed this company and their shareholders investments. Essentially all of the their business decisions were made to only benefited upper management and not the shareholders. Good companies with solid assets do not loose 99.99% of their stock price. Sell and run the other direction! Who cares what the charts say...a wet paper bag is stronger than CEGX!
If CEGX were to upload 500 hundreds of aerial "prospect" photos on their website here is a list of activities CEGX is currently NOT allowed to do:
1. Drill new oil wells.
2. Pump oil.
3. Sell oil.
4. Transport oil.
5. Operate as an oil operator in the state of Texas.
These items listed are required to make money in the oil business as an oil operator. Posting "prospect" pictures on their website will never make a dime. They can prospect all day and night, but they will not be allowed to do anything with the oil fields.
Those are great oil numbers. They will be lucky to pay a couple cell phone bills with all of that money.
What a marvelous plan: Merge one garbage oil company thats in trouble with the TRRC for well compliance issues with another garbage oil company with no oil leases or capital! Can someone explain the purpose of this merger again???? Were are all these "assets" to "generate significant revenues to the company"??
Tim Crawford, Paul Carlisle and Stan Ford- Keep up the good work guys!! All 3 on track to receive the 2017 award for: Oil tycoons of the year.
Another nail in the coffin for CEGX!
CEGX should change their company slogan to: "How to do everything wrong and lose millions of investors money".
Lets not focus on any of these facts.....Check out the price of oil! and CEGX's new office! Everyone just needs to hold tight big things are coming!!!
They are not a big company. All they have done is spent millions of dollars and have nothing to show for it. They have ZERO revenue and do not have any operational oil leases.
ZERO operational leases ='s ZERO revenue.
Having a "nice" office means nothing if they cannot make money.
"Nice offices" or a "good office location" does not pump or sell oil.
Here is a list of the items CEGX staff will NOT be using the new sweet office for:
1. Pumping oil.
2. Selling Oil.
3. Operating or developing oil and gas leases.
***Kind of hard to drill wells, pump or sell oil when you are not in compliance with the Texas Rail Road Commission and they revoke your rights to operate as an oil operator***
Here is a list of items CEGX's staff WILL be using the new sweet office for:
1. A front for their NON-existent / shut down / NON-Producing oil and gas leases.
2. Taking naps.
3. Taking advantage of naive investors.
"Looking Good" doesn't create money!
EOI and CEGX…. Stellar companies making stellar strides in oil and gas!
I see where the TRRC posted the agenda for the 10/10/17 meeting. Did they post the results of the minutes from the meeting? Do you have a link?
Here is another excellent quote that has not aged well:
John Jordan - “I commend and support your vision of building an environmentally responsible oil and gas company by doing things “the correct way”. I also believe that the pending close of the acquisition of EOI Eagle Operating, Inc. and the addition of Paul Carlisle to the management team will position Cardinal to take advantage of many opportunities to develop and monetize oil and gas leases throughout the Central Texas area to the benefit of the shareholders of Cardinal Energy Group.”
Every single management quote from their news releases are a complete contradiction to reality. Hey, Fantasy Land… meet reality!
Let me guess… everyone just needs to “just hold on”….“big things are coming”….“this is a great company”?
You know whats the best aspect of CEGX? They have a nice new office!!!
EOI and CEGX.... Stellar companies making stellar strides in oil and gas! CEGX should change their logo to a picture of a dog taking a dump in the grass.
I see where the TRRC posts the agenda for the 10/10/17 meeting. Did they post the results or minutes from the meeting? Do you have a link?
Here is another excellent quote that has not aged well:
John Jordan - "I commend and support your vision of building an environmentally responsible oil and gas company by doing things “the correct way”. I also believe that the pending close of the acquisition of EOI Eagle Operating, Inc. and the addition of Paul Carlisle to the management team will position Cardinal to take advantage of the many opportunities to develop and monetize oil and gas leases throughout the Central Texas area to the benefit of the shareholders of Cardinal Energy Group."
Let me guess.... every one just needs to "Just hold on"....."big things are coming".... "this is a great company"?
Every "management" quote from their news releases are a complete contradiction to reality. Hey, Fantasy Land..... meet realty!
You know whats the best aspect of CEGX? They have nice new office!!
What document are you referencing??
Exactly! I was wondering the same thing. One company is operational with actual REVENUE and the other is a giant dog terd!
I agree. If CEGX actually has any money or legitimate projects they would publicly announce them instead of telling select people everything is awesome and wonderful.
That great to see EOI is just as worthless in an oil and gas lease development role......
Look how well these news release quotes are aging:
Tim Crawford - “We are pleased to announce the acquisition of Eagle’s assets as these assets will generate significant revenues to the Company"
Paul Carlisle - "I feel the company is strategically positioned as the result of the addition of Eagle’s existing leases and new equipment to fully develop all of the existing properties held by Cardinal Energy Group and the additional leases which will be acquired in the near future as the result of the Company’s current capital raise."
Pretty dumb on their part. If they are trying to run a scam operation they should at least have a couple of projects that produce oil or make money as a cover. When everything they do seems to make zero money, increase debt, increase lawsuits everyone will have a microscope pointed on everything they do.
Opening a lemonade stand along side the road and selling lemonade beats CEGX in a business compare/contrast list all day every day!
Any thoughts on their business game plan(if there even is one)? They claim developing oil leases and contract services for oil fields is their business model? Their actions don't show this.
Each week that passes with zero communication from management make them seem more and more incompetent.
Zero communication and Zero action make it seem like their business exists to essentially extract money out of investors by using junk assets. Then they pay themselves by funneling money back to themselves through kickbacks from inflated invoices or doing cheap work in exchange for something else?
I hope I'm wrong, but they don't provide any reasons or evidence to think otherwise.
Pierretp - Are you reading any of the posts from this message board??
The price of oil is completely irrelevant for CEGX. It doesn't matter if the price of oil is $200 a barrel, $100 a barrel or $5 a barrel. They cannot sell oil. As Tdbowieknife has been continually pointing out, they have not sold a drop of oil since October 2016! If you don't believe us, check the Texas Railroad Commission website for confirmation!
Here is a comprehensive list of what CEGX is hungry to do:
1. Take investors money.
2. Siphon off some for themselves.
3. Recklessly spend investors money on garbage projects.
3. Make several more poor business decisions a long the way.
4. Ultimately destroy share value and shareholder's investments.
5. Accept zero responsibility for their negligence.
6. Tell investors everything at Cardinal is rainbows and unicorns.
7. Return to step #1.
I agree 1oil guy.
Basically, all of CEGX's leases are gone. EOI has a bunch of leases, but they don't operate them probably because they are garbage. No sense in operating them if they won't make any money.
I can't figure out why EOI would sell out for $250K and a 1 million Cardinal shares of stock worth $10? obviously, it was a great deal for Paul C. and clearly EOI wasn't really making any money based on what was paid to acquire them.
You have 1 horrible company merging with another horrible company. For what purpose? They clearly are not trying to make money by owning oil leases or developing them.
Exactly, 1oil guy!
Everyone is trying to act like CEGX is the Apple of oil companies, but in reality have nothing except junk leases, cannot sell oil, lawsuits, no capital and a load of previous debt they cannot pay back.
But hey ...... that new office they have is SWEET!!
Fantasy VS. Facts.
What evidence do you have the new CEO is working hard??
Maybe from all of the new CEO's news releases addressing all of the investors of his plans, vision and new direction for the company?? - This never happened.
It must be all of CEGX's news releases showing them obtaining millions of dollars of funds to invest in operations. - This never happened.
Maybe all of the CEGX's news releases showing CEGX acquiring legit(keyword) oil leases/properties with wells producing hundreds of barrels of oil per day? - This never happened either!
Everything CEGX currently owns is not running or they are junk leases. CEGX refuses to take responsibility or accountability for their actions on behalf of their investors or address simple basic questions. They are a dumpster fire of dog poop... please keep you money on the sidelines for the time being!!
Bibi3081 - Please read my previous posts from the past couple weeks.
A great company???? Name one great thing about this company as it currently stands. Anything related to owning, operating or selling oil produced from oil leases they are garbage. They produce zero oil and haven't produced anything in a solid year! In communicating with Tim Crawford they "don't know" when they will start working their leases again.
A new office and new CEO for an insolvent company are irrelevant. Since Cardinal cannot sell ANY oil, they pull out of the ground oil price is completely irrelevant.
Here is your CEGX snapshot:
1. CEGX has no money. They are essentially insolvent.
2. Every CEGX lease is tied up in a lawsuit.
3. CEGX has unloaded leases into someone else name (see Texas Railroad Commission Website).
4. The landowner of the Bradford has a legal judgement that nullifies CEGX's Bradford leases. He has taken back the Bradford land due to non production of oil. See landowners judgement against CEGX posted below:
https://www.scribd.com/document/360583553/Judgement-against-CEGX
5. As it stands right now, CEGX cannot sell oil in the state of Texas. Hence the reason oil production has been reported to the Texas Railroad Commission since Oct 2016.
I know.... what a complete circus! The Bradford is the only asset that might be worth something. They just let the Bradford go and acted like they knew nothing about the court date. It clearly states in the judgement they were served the citation and it was kept on file according to the law. Someone is lying and I'm sure its not the courts since they have documents to back it up. Last time I checked, you cannot have court for a lawsuit if the other party is not served papers. For them not to show up or notify investors is ridiculous!
But lets not forget Cardinal now has a 87 year old medical doctor board member with zero oil and gas experience. This news is much more important to release to the public!
Makes sense. I posted the judgement link below. The landowner has had legal possession of the land for almost 4 months. So who knows what he has done to the wells/equipment if anything at all.
So unless Cardinal has an Ace up their sleeve, the company as it stands right now is a giant dumpster fire. Who cares if they become current on filings... they still have no money, every property tied up in lawsuits, zero running leases and cannot sell oil. But hey they have a nice new office!
I've been hearing "next week" or "next month" for years. Every "update", funding deal or financial filings that have been promised fall through or never happen as stated. On the other hand, Cardinal talks about how everything has never been better and they are right around the corner from producing "hundreds of barrels of oil per month". Past history shows deception and or lies. Will history keep repeating itself??
FACTS....... MEET REALITY!
https://www.scribd.com/document/360583553/Judgement-against-CEGX
Correct, Shackelford County is not online....you have to either visit the courthouse or send a letter requesting the case info. I would attach the court documents on here, but it won't let me. What is your email address? I can send them to you.
I dont know if I would say they are a complete "scam". I just know what they are saying vs what is actually happening does not line up. You would think a new CEO would address these issues or at least address the investors let them know what direction they are planning to take. The silence from Stan Ford, Paul Carlisle and Tim Crawford doesn't look good when investors are routinely trying to ask for a general update or something.
CEGX's Highlight Reel.....
1. CEGX has no money. They are essentially insolvent.
2. Every CEGX lease is tied up in a lawsuit.
3. CEGX has unloaded leases into someone else name (see Texas Railroad Commission Website).
4. The landowner of the Bradford has a legal judgement that nullifies CEGX's Bradford leases. He has taken back the Bradford land due to non production of oil. (case #2017-015 Shackelford County).
5. As it stands right now, CEGX cannot sell oil in the state of Texas. Hence the reason oil production has been reported to the Texas Railroad Commission since Oct 2016.
Wake up people!
Load of debt, no capital, truckload of lawsuits, losing leases to land owners due to non production, no running leases, cannot sell oil in Texas.
Unless Exxon Mobile has stroked a 20 million dollar check to invest in CEGX forget about it!