Cardinal Energy Ltd. Announces Management Changes; Declares Monthly Dividend, Payable on February 15, 2018
January 09, 2018 at 06:19 pm EST
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Cardinal Energy Ltd. announced the retirement of Mr. Doug Smith, Chief Financial Officer. Mr. Smith has been with Cardinal since its inception and the management, staff and directors of Cardinal thank him for his valuable contributions to the company during this period. Mr. Smith will continue to stay on in an advisory role until January 31, 2018 to ensure a smooth transition. The company announced that Mr. Shawn Van Spankeren, CPA, CMA will be joining the company as Chief Financial Officer effective January 15, 2018. He was most recently the Vice-President, Finance and Administration for Crew Energy Inc. where he
Cardinal Energy Ltd. also announced that a dividend of $0.035 per common share will be paid on February 15, 2018 to shareholders of record on January 31, 2018. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
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. 
