Cardinal Energy Ltd. Appoints Greg Tisdale to its Board of Directors; Declares Dividend Per Month for the First Quarter of 2014 Payable on February 17, 2014, March 17, 2014 and April 15, 2014
January 07, 2014
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Cardinal Energy Ltd. announced that Mr. Greg Tisdale has joined its Board of Directors effective January 7. Mr. Tisdale is the Chief Financial Officer of Crescent Point Energy Ltd., a role he has held since 2004. During the past ten years he has managed all aspects of Crescent Point's finances. Mr. Tisdale has worked in the oil and gas industry since 1995 and has served and currently serves on the board of directors of several junior oil and gas companies.
The company also announced that its Board of Directors has approved a current dividend policy of $0.05417 per common share per month for the first quarter of 2014, based on the current economic conditions of its business. Cardinal has declared this dividend to be paid on February 17, 2014, March 17, 2014 and April 15, 2014 to shareholders of record on January 31, 2014, February 28, 2014 and March 31, 2014 with an ex-dividend date of January 29, 2014.
Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties.
Cardinal Energy Ltd. Appoints Greg Tisdale to its Board of Directors; Declares Dividend Per Month for the First Quarter of 2014 Payable on February 17, 2014, March 17, 2014 and April 15, 2014