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Last C$0.06 CAD
Change Today -0.015 / -20.00%
Volume 183.2K
CRS On Other Exchanges
As of 3:59 PM 04/1/15 All times are local (Market data is delayed by at least 15 minutes).

cardiff energy corp (CRS) Snapshot

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52 Week High
09/17/14 - C$0.29
52 Week Low
04/3/14 - C$0.02
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Current Stock Chart for CARDIFF ENERGY CORP (CRS)

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cardiff energy corp (CRS) Details

Cardiff Energy Corp. engages in the acquisition, exploration, development, and production of oil and gas reserves in the United States and Canada. The company holds interests in 15 producing oil wells, 1 producing gas well, and 3 shut-in oil wells in the Lincoln County area of central Oklahoma; and 7 producing oil and gas wells in the Garvin County area of southern Oklahoma. It also holds interest in the Buzzard Sand project located in the Osage County of the state of Oklahoma. Cardiff Energy Corp. was founded in 2010 and is headquartered in North Vancouver, Canada.

Founded in 2010

cardiff energy corp (CRS) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: C$42.0K
President, Chief Financial Officer and Direct...
Total Annual Compensation: C$11.8K
Compensation as of Fiscal Year 2013.

cardiff energy corp (CRS) Key Developments

Cardiff Energy Corp. Signs Definitive Participation Agreements with Martin Energies and Archer Petroleum to Participate in Drilling of the Clayton Well

Cardiff Energy Corp. has signed definitive participation agreements with Martin Energies, the operator, and Archer Petroleum to participate in the drilling of the Clayton # 1H, a Horizontal Well. This well will target the Gardiner Lime on the company's 468 Acre lease in Runnels County, Texas. It is anticipated that drilling of the Clayton # 1H will commence March 15, 2015. The permit for the well will allow the well to be drilled to a depth of approximately 4,100 feet with a horizontal leg of up to 3,500 feet. The Company's joint venture partners will fund 2/3 of the cost of the Clayton #1H to earn a 50 % working interest. The estimated cost to drill and complete the Clayton # 1H is $1,300,000. The Gardiner Lime has very similar features to another major field in Texas called the Austin Chalk. Both formations produce from fractured limestone. Initial production of 1500 BOPD has been reported in Austin Chalk from horizontal wells. The Clayton #1H well, will be the first Gardiner horizontal drilled in Runnels County, Texas.

Cardiff Energy Corp. Announces Plans to Drill a Horizontal Well in Runnels County Texas

Cardiff Energy Corp. announced that it is planning to drill a horizontal well on its lease in Runnels Country Texas, to test the Gardiner Lime. The Gardiner Lime is a fractured limestone which is approximately 15 feet thick and comparable geologically to another major field in Texas called the Austin Chalk. The Austin Chalk has had a number of successful horizontal wells, of which some of the more prolific wells have had initial production of 1500 barrels of oil per day (BL/day). Martin Energies has drilled a number of Gardiner Lime vertical wells in the early 1980s in Runnels County, Texas and a number of these wells initially produced between 180-240 BL/day. By drilling a horizontal leg in this area the results could be the equivalent production of 5-7 vertical wells. With this in mind, the Company has decided to focus its current activity on drilling this horizontal well and will not be proceeding with the 3 well vertical drilling program previously announced. An important feature of drilling in the Gardiner Lime is that it is a naturally fractured limestone and will not require a costly hydraulic fracture treatment. It is anticipated that drilling will commence in 30 days and the well will be drilled to a depth of approximately 4,100 feet with a horizontal leg of 1,000 feet. The cost of this well is estimated to be $1,300,000. Cardiff is actively negotiating with joint venture partners to participate in this well. Partners will pay 1/3 of the cost to earn 1/4 of the working interest; with a maximum of 50% working interest available for joint venture partners.

Cardiff Energy and Archer Petroleum Sign LOI on Participation Agreement

Cardiff Energy Corp. announced an LOI with Archer Petroleum Corp. where Archer intends to form a Participation Agreement on a 3 well drill program in Ballinger, Texas USA. Archer will fund 33% of the cost on the next 3 wells to earn a 25% working interest in each well. The wells will be drilled within the next 60 days. A definitive agreement will be finalized by December 15, 2014. Management of Cardiff Energy will be in Ballinger Texas on Wednesday December 11, 2014 and will work towards arranging the first 3 drill locations for the upcoming drill program. Management will also assess the completion of the Bearcat #4 well. The Gardner formation will be evaluated for a Horizontal Radial entry to free up hydrocarbons identified in the logs.


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