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Cardinal Energy Ltd. Announces Monthly Dividend for June and the Release of Our 2022 ESG Report
Calgary, Alberta--(Newsfile Corp. - June 8, 2023) - Cardinal Energy Ltd. (TSX: CJ) (" Cardinal " ...
About this update from Cardinal Energy Ltd.
[{"type":"text","content":"Cardinal Energy Ltd. Announces Monthly Dividend for June and the Release of Our 2022 ESG ReportCalgary, Alberta--(Newsfile Corp. - June 8, 2023) - Cardinal Energy Ltd. (TSX: CJ) (\"Cardinal\" or the \"Company\") confirms that our June dividend of $0.06 per common share will be paid on July 14, 2023 to shareholders of record on June 30, 2023. 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.Cardinal has released our 2022 Environmental, Social and Governance (\"ESG\") Report today, which outlines our commitment to operating in a responsible and sustainable manner, setting out our initiatives and outlining our progress in providing sustainable production, positive environmental performance and top tier shareholder returns. Our strong corporate emissions performance has continued in 2023 with ongoing CO2 sequestration in Saskatchewan and further implementation of projects aimed at reducing emissions from our operations across Alberta, Saskatchewan and British Columbia. Our safety record continues to be in the top tier of the industry, as is our regulatory compliance level. We will continue with our commitment to reduce our environmental footprint with $23 million in our 2023 budget for asset retirement obligations (\"ARO\"), more than 2.5 times our required regulatory spend requirements. The ESG Report is available on the Cardinal website at www.cardinalenergy.ca.Cardinal has been closely monitoring the northern Alberta wildfires. With the situation improving, we have brought back on much of our production that was curtailed in response, and expect that all affected production will be back on by June 30, 2023. We estimate that the wildfires will impact our second-quarter production average by approximately 750 boe/d or 3.5% of forecasted production for the quarter.Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements and forward-looking information (collectively \"forward-looking information\") within the meaning of applicable securities laws relating to Cardinal's plans and other aspects of Cardinal's anticipated future operations, management focus, objectives, strategies, financial, operating and production results. Forward-looking information typically uses words suc...