Cardinal Energy Ltd. Announces Monthly Dividend for January, Reford Reaches Nameplate Earlier than Expected

Executive Summary

• Cardinal Energy declared a cash dividend of $0.06 per common share payable on February 17, 2026.
• The company has exceeded the nameplate capacity of its Reford SAGD project, now operating at ~6,500 bbl/d—about two months ahead of schedule.
• Management indicated it will defer 2026 guidance and aim to operate on a net‑debt‑neutral basis while using remaining capital for prioritized drilling, completions, and maintenance.

Key Details

• Dividend: $0.06 per common share; record date January 30, 2026; payable February 17, 2026; designated as an “eligible dividend” for Canadian tax purposes.
• Reford SAGD Production: Exceeded 6,000 bbl/d nameplate capacity; forecasting 6,500 bbl/d in Q1 2026.
• Operational Outlook: Company plans to defer formal 2026 guidance due to volatile crude prices; will operate on a net‑debt‑neutral basis, using cash flow to service the dividend and fund moderated drilling/completion/maintenance activities across conventional and thermal assets.
• Strategic Positioning: Anticipates Reford production will lift total corporate output to record levels in Q1 2026; if WTI crude prices rise above US$60/bbl, additional funds may be allocated to expand conventional oil activity, thermal exploration, and debt reduction.
• Forward‑Looking Statements: Includes forecasts of production rates, reserve estimates, and financial performance; subject to risks such as commodity price volatility and operational uncertainties.

Notable Quotes

(No direct quotes were provided in the release.)