Replies to post #3475 on Cardinal Energy Group Inc. (fka CEGX)

[tdbowieknife]

I don't know as I have not looked at the specifics of each well. It looks like all surface equipment needs to be removed from the inactive wells and any contaminate soil cleaned up and replaced. That would include pump jacks, piping and holding tanks as well as some wellbore integrity testing to cure some other severance issues. If they do not comply the TRRC will issue a Master Default Order to plug them all as well. If they do not plug them in the allotted time the State of Texas will plug them and send them the bill. Plugging the wellbores would be additional and cost look to be around 500,000 bucks for the wells listed in exhibit A.

And what is left is a pumped out lease that generates no revenue. The likely reason for Timmy trying to avoid the responsibility.


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Buyer Beware

TRRC plugging liabilities up the wazzooo !!

Pump and dump scam



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[tdbowieknife]

Oh... And I would say the dilution is coming from Rockwell Capital selling their 90% discounted shares...

https://www.sec.gov/Archives/edgar/data/1408351/000149315216015989/ex10-1.htm


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Buyer Beware

TRRC plugging liabilities up the wazzooo !!

Pump and dump scam



..