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Cardinal Energy Group Sells California, Ohio Assets

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April 25, 2014

Cardinal Energy Group Inc. (OTC: CEGX) sold its California and Ohio oil and natural gas assets to California Hydrocarbons Corp. on April 22, and will cancel 3 million of its common shares held by California Hydrocarbons, the company said April 24.

Cardinal’s common stock is worth $2 million, the company noted.

Cardinal will focus on Texas oil and natural gas production, the company added.

The company had held partial working interest in 11 oil and natural gas wells in Licking and Knox counties, Ohio, and also held 100% working interest ...

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