Cardinal Energy Ltd. Confirms Monthly Dividend for April

CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal") (TSX:CJ) confirms that a dividend of $0.035 per common share will be paid on May 15, 2018 to shareholders of record on April 30, 2018. 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.

About Cardinal Energy Ltd.

Cardinal is a junior Canadian oil focused company built to provide investors with a stable platform for dividend income and growth. Cardinal's operations are focused in low decline light and medium quality oil in Alberta and Saskatchewan.

For further information: M. Scott Ratushny, CEO or Laurence Broos, VP Finance, Cardinal Energy Ltd., 600, 400 – 3rd Avenue SW, Calgary, AB T2P 4H2, Main Phone: (403) 234-8681 Website: www.cardinalenergy.ca