QualityStocks would like to highlight Cardinal Energy Group (
OTCQB: CEGX), an emerging oil and gas exploration and production company. Most of the lower 48 states contain oil and gas formations with economically recoverable reserves that are proven by more than 75 years of geological research, exploration, and production. These formations range from 350 feet below ground level to as deep as 21,000 feet. The Energy Information Administration estimates the United States has recoverable reserves of 223 billion barrels of oil and 2.4 trillion cubic feet of wet natural gas. Cardinal concentrates on promoting U.S. oil and gas development and production in a manner that maximizes economic recovery while protecting land and royalty owners.
In the company’s news,
Cardinal Energy Group’s vision is to become a nationally-recognized oil and gas exploration and production company.
The Energy Information Administration estimates the United States has recoverable reserves of 223 billion barrels of oil and 2.4 trillion cubic feet of wet natural gas. Cardinal concentrates on promoting United States oil and gas development and production in a manner that maximizes economic recovery as well as fully protects land and royalty owners. Energizing the company’s efforts is the fact that many of the lower 48 states possess oil and gas formations with reserves that are economically recoverable and proven by more than 75 years of exploration geological research, and production. These formations are known to range from 350 to 21,000 feet below ground level.
The two pillars in Cardinal’s growth plan to recover oil and gas reserves are to acquire producing fields with significant, proven reservoirs that provide growth opportunities through drilling programs and to re-work marginal, neglected, abandoned, and low producing oil and gas wells located in mature fields with economically efficient secondary recovery methods.
With the emergence of advanced horizontal drilling, new fracturing technologies, and higher oil prices advanced horizontal drilling coming into place coupled with new fracturing technologies and higher oil prices, Cardinal has the ability to access large previously cost prohibitive reserve formations. Calculated hydro and gas fracturing allows the company to create an avenue for petroleum to flow from proven reservoirs and potentially, upper and lower strata without penetrating individual formations. Utilizing secondary recovery methods such as water, sand, and chemical dilution enables Cardinal to recover more free flowing oil and natural gas assets in a more economic fashion.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
