CJ:CC - Cardinal Energy Ltd. Announces May Dividend

Calgary, Alberta--(Newsfile Corp. - May 13, 2024) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") confirms that its May dividend of $0.06 per common share will be paid on June 14, 2024, to shareholders of record on May 31, 2024. 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.

About Cardinal Energy Ltd.

Cardinal is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. Cardinal differentiates itself from its peers by having the lowest decline conventional asset base in Western Canada. Cardinal has recently announced the commencement of its first thermal SAGD oil development project which will further increase the long-term sustainability of the Company. Cardinal works to continually improve its Environmental, Social and Governance profile and operates its assets in a responsible and environmentally sensitive manner.

For further information:

M. Scott Ratushny, CEO or Shawn Van Spankeren, CFO or Laurence Broos, VP Finance
Email: info@cardinalenergy.ca
Phone: (403) 234-8681

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208967