Cardinal Energy Group, Inc. has secured its first drilling permit for its recently acquired 200 acre Bradford West Lease, which is adjacent and to the West of its Bradford A and B Leases. The first well of a twenty well program, the Bradford BW-1 well was drilled on March 16, 2015. Upon completion of the tank batteries and minor infrastructure requirements the Bradford BW-1 will be completed.
Timothy Crawford, CEO of Cardinal, stated, 'We are very pleased to announce this major step forward as the logging report indicates this to be a strong producing well with a good show of oil in the Frye formation. We are following the channel trend guided by the data we receive from drilling each new shallow well. We will institute a water flood plan on the Bradford West Lease, which should significantly increase production moving forward and mitigate the decline curve inherent to any well. The Bradford West is a shallow oil play that meets our goal of profitability by maintaining our finding and lifting cost below $15 per barrel.'