Cardinal Energy Group, Inc. Reports Earnings Results for the Third Quarter and Nine 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.