Cardinal Energy Group, Inc. has signed a Formal Letter of Intent to acquire a 50% working interest in the Conway-Dawson Lease located in Central West Texas.

There are currently 46 wells and one injection well located within the Conway-Dawson Lease. There is additional acreage which will support drilling and completing up to 11 new development wells. Cardinal will become the operator of record and anticipates through the remediation of the current wells, the prospect can be producing an estimated 50 BOE per day within several months, with the additional development opportunities to follow.

Tags: Cardinal Energy Group, Inc.