Cardinal Energy Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total operating revenues for the quarter increased from $5,000 in 2013 to $1,023,000 in 2014. During the third quarter, the company had EBITDA of $248,000 compared to a loss for the comparable period of 2013 of $292,000. The improvement in earnings was accomplished through increased sales of oil and gas products of $48,000 compared to $5,000 during 2013, and income from drilling and development services provided to an unrelated joint venture of $647,000 for the three months ended September 30, 2014.

For the nine months ended September 30, 2014, the company had a net comprehensive loss of $2,504,000 compared to a net comprehensive loss for the comparable period in 2013 of $1,395,000. The losses sustained are due primarily to increased interest expense incurred and the significant increase in operating and production expenses associated with the expansion of the Company's portfolio of oil and gas properties during 2014. Operations should continue to improve during Fourth Quarter as production increases from its existing oil and gas leases and as production from additional oil and gas properties are brought online.