BRIEF-Cardinal Energy Q4 earnings per share $0.01

Wed Mar 16, 2016 7:15am EDT
 
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March 16 (Reuters) - Cardinal Energy Ltd.

* Says average daily production of 13,792 boe/d in Q4 2015

* Qtrly earnings per share $0.01

* Will continue to maintain a conservative approach to capital spending in 2016

* "Do not anticipate a dividend increase in 2016 unless we see a sizable sustained upward movement in price of oil"

* Says increased total proved reserves ("1P") by 37% to 44.0 Mmboe at quarter-end

* Says 2P reserves increased by 38% to 59.5 Mmboe in 2015

* Qtrly petroleum and natural gas revenue $43.3 million versus $63.2 million

* Says hedged about half of its anticipated 2016 natural gas production at various prices above $2/mcf Source text for Eikon: Further company coverage: