SOURCE: Cardinal Energy Group, Inc.

Cardinal Energy Group, Inc.

May 19, 2015 06:00 ET

Cardinal Energy Group, Inc. (CEGX) Reports Incorrect Information

Yahoo Financial Portal Includes Wrong Information on CEGX

DUBLIN, OH--(Marketwired - May 19, 2015) - Cardinal Energy Group, Inc. (OTCQB: CEGX) reports that the Yahoo Financial Portal is posting incorrect information. The portal is posting information for Cardinal Energy, Ltd. of Calgary Alberta Canada. Cardinal Energy LTD has no association whatsoever with Cardinal Energy Group, Inc. with offices in Dublin, Ohio and Abilene, Texas.

"We have worked very hard to build Cardinal into a respectable independent oil producer," remarks Timothy Crawford, Chairman and Chief Executive Officer of CEGX. He goes on to say, "You can imagine our surprise to see the wrong company's information linked to our company's headline on a major financial portal like Yahoo Finance. We are working diligently to correct this misinformation and any confusion between our companies. The wrong posting by Yahoo has caused us considerable harm in relation to our investment community that relies on the accuracy of public company information posted by the financial sites. Please be aware of this situation when making your assessment of CEGX for inclusion in your investment portfolio. We are Cardinal Energy Group, Inc. trading under the symbol CEGX on the OTCQB. Please excuse this issue, as we have no power over it, yet we are reaching out to Yahoo to fix the problem."

More information on Cardinal Energy Group, Inc. is available at www.cegx.us.

Forward Looking Statements

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Cardinal Energy Group, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our beliefs concerning our ability to increase the rate of oil and gas production, and the expected demand, pricing and operating results for our oil and gas operations.

About Cardinal Energy Group, Inc.

Cardinal Energy Group, Inc. is a U.S producer of oil and natural gas within the United States. The Company is headquartered in Dublin, Ohio and has its regional operations office located in Albany, Texas. We are an environmentally responsible oil and gas Company. Cardinal focuses on known formations that have significant proven reserves remaining that can be produced economically. Cardinal targets fields with wells that may need remediation due to neglect or undercapitalization. We select prospects that offer a strong up-side for production. The upside we seek in a prospect is threefold -- it must have the potential to be restarted or have its current production increased using newer technology and remediation methods and; it must also have additional lease acreage which can be further developed by completing development wells adjacent to existing producing wells, or it must be an overlooked or distressed prospect in the explosive shale formations like the Permian Basin or Eagleford shale. Cardinal exploits these undervalued assets by acquiring a majority working interest in the prospect and then applies the Company's calculated development plan. Cardinal also seeks acquisitions of over-leveraged companies when there is a clear upside from their purchase based on strong commodity prices. The Company operates throughout the Continental United States. More information on Cardinal Energy Group, Inc. is available at www.cegx.us.

Contact Information

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