Cardinal Energy Ltd. has completed its previously announced acquisition in the Wainwright area of Alberta. The acquired assets are 99.4% operated, include a high working interest in the associated facilities and are consistent with our strategy of building a solid low decline production base. Wainwright is a new core area for Cardinal and the assets acquired immediately offset Cardinal's current producing properties in Wainwright.

About Wainwright

These properties were acquired on January 23, 2013 and produce approximately 100 Boe/d of medium quality crude oil (22° API) and associated gas. Crude oil makes up 99% of the production. The Wainwright Assets consist of 73% operated working interest in medium quality crude oil assets located in the Wainwright area of Alberta with 87% of the reserves being proved producing reserves.

Tags: Cardinal Energy Group