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Cardinal Energy (OTC:CEGX) Boosts Oil and Gas Assets

Written By Jason Stutman

Posted August 22, 2013

Cardinal Energy (OTC:CEGX) Boosts Oil and Gas Assets

Dublin, Ohio’s Cardinal Energy Group (OTC: CEGX) has agreed to purchase 100 percent working interest in oil and gas leases and operational assets from Kansas Petroleum Resources LLC in Pawnee and Hodgeman counties, Kansas.

The purchase includes 17,000 acres of land plus 19 vertical oil and gas producing wells. Well production comes from the Lansing-Kansas City limestone, Cherokee Sand Basin, Mississippian limestone, and Permian Chase group. Average combined oil production of these assets is about 300 bpd, with Cardinal expecting to double output.

Solar Stock Investing

No matter our political opinions on subsidized energy, there is no denying that government subsidies can sometimes make or break an industry. Take, for instance, Germany’s Renewable Energy Act passed in 2000. This piece of legislation heavily awarded renewable energy installers, and has led to Germany becoming the top market for solar. Germany now gets over 20 percent of its power from renewables, and generates 23.9 gigawatts of electricity from solar in a single month. In the U.S., subsidies go to solar and natural gas, which have been making a killing recently. For more about investing in U.S. solar stocks, click here.

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