Cardinal Energy Ltd. announced it has entered into an agreement with its syndicate of lenders to extend and increase its credit facilities ("Facilities"). The Facilities were increased to $200 million (previously $155 million) and the revolving period and maturity date were extended to May 31, 2025 and May 31, 2026, respectively. In connection with the renewal, Cardinal has received a reserve based lending commitment from a new lender, Business Development Bank of Canada.

The increased liquidity will provide additional support for the Company's announced capital program, including the Company's steam-assisted gravity drainage project in Reford.