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Business confidential: Not for further dissemination without consent of Cardinal Energy Group

THIS PRESENTATION IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURTIES

Company Presentation


Investors and readers are cautioned that certain statements contained in this presentation, as well assome statements in periodic press releases and some oral statements of our officers and directorsduring presentations about Cardinal Energy Group, are "forward-looking" statements within themeaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward looking statementsinclude statements that are predictive in nature, which depend upon or refer to future events orconditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might","believes", "seeks", "estimates“, or similar expressions. In addition, any statements concerning futurefinancial performance (including future revenues, earnings or growth rates), ongoing business strategiesor prospects, and possible future actions, which may be provided by the Company's management, arealso forward-looking statements as defined by the Act.

Forward-looking statements are based on current expectations and projections about future eventsand are subject to various risks, uncertainties and assumptions about Cardinal Energy Group, itstechnology, economic and market factors and the industries in which the Company does business,among other things. These statements are not guarantees of future performance and Cardinal EnergyGroup undertakes no specific obligation or intention to update these Statements.

Safe Harbor Statement

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Many Oil Reserves in The U.S. are

• We apply modern production theory and technology to remediate wells that are either non-producing or are marginally producing.

Stranded

Wells drilled during the boom of the 1980’s have been ‘left behind’

3

These neglected assets are Cardinal Energy’s opportunity

• New theory and technology enables these stranded reserves to be produced with minimal cost.


Making the United States less dependent on foreign oil

By using modern technology such as the GasGun™ we are able to significantly boost the production of these fields

economically.

Cardinal Energy Group follows a plan that focuses on reworking oil & gas wells located within mature fields.

4

These fields still have vast reserves that can be recovered


Successful remediation and recovery of these stranded assets requires operational efficiency

• Our oil field services are sub-contracted to local workers

• We repair and rework existing equipment

• Which reduces our overhead as it minimizes our costs

• We arrange the commodity sale

• We oversee field operations

• We govern accounting and administration

• Which controls cost as it ensures capital is used efficiently

Cardinal Energy Group is an experienced oil & gas operator

5

We employ a two-pronged business model to optimize production and profit

WE MINIMIZE WE CONTROL


We invest our shareholder’s capital with the aim of producing high value returns

Seasoned veterans with

oil & gas experience

Managing a sensible

portfolio of energy assets

6

Cardinal Energy has a balanced approach


Our investment plan follows a simple strategy

• We target assets that are undervalued because they are

abandoned, in need of repair or are marginally producing

• We also target over-leveraged companies with assets that may

offer us a clear upside due to commodity price increases

The Focus of Cardinal Energy Group

7


Our growth plan follows a simple strategy

The Focus of Cardinal Energy Group

8

• developing our 618 acre oil field through remediating 46 oil wells in Texas;

• developing our 657 acre natural gas field in Northern California;

• the future development of our 2200 acres in Northern Ohio;

• work-overs, farm-ins and lease sale opportunities;

• new prospect acquisitions.•

We achieve growth by…

…we target opportunities throughout the Continental United States


Proposed Projects

9

Our Current AssetsWayne County, OH

Develop Our Existing Acreage Drill and Complete 4 wells

Colusa County, CADevelop Our Existing Acreage

Remediate Existing Wells

Shackelford County, TXDevelop Our Existing Acreage

Remediate 46 Existing WellsDrill Additional Wells

Pawnee County, KSPurchase of Existing Production

300+ Barrels of Oil per Day19 Producing Oil Wells

17,000 Acres with 3D Seismic

Northern California2 Deep Natural Gas Wells (Dry Gas)

657 Acres - HBPColusa County, CA

Appalachian Basin13 Oil & Natural Gas WellsKnox, Licking & Holmes County, OH

2200 Acres - HBPWayne County, OH

South Central Texas46 Oil wells618 Acres – HBPShackelford County, TX

HBP = Held By Production


Company Assets

10

WELL NAME OPERATOR COUNTY STATE

Burden, W. #1 Knox Energy Licking OHLayman Dairy #1 Knox Energy Licking OHDonahey #3 Knox Energy Licking OHRowley, C. #1 Knox Energy Knox OHNorris, T. #1 Knox Energy Knox OHMiller,E. #1 Knox Energy Knox OHGorius, D. #1 Knox Energy Licking OHNorris, J. #1 Knox Energy Knox OHDodson, M. #1 Knox Energy Licking OHGeiger, J. #1 Knox Energy Knox OHJoe Patton #8 Knox Energy Licking OHNowells Well #1 Cardinal Energy Holmes OHNowells Well #2 Cardinal Energy Holmes OHArmstrong #17-1 Cardinal Energy Colusa CAArmstrong #17-3 Cardinal Energy Colusa CA657 Acres - Colusa County, CA Cardinal Energy Colusa CA

Seismic Data – Colusa County, CA - Colusa CA

2200 Acres - Wayne County, OH Cardinal Energy Wayne OH

618 Acres – Shackelford County, TX Cardinal Energy Shackelford TX

46 Oil Wells Cardinal Energy Shackelford TX

OTHER ASSETS

2,078,800 Shares (CETG)Capital City Energy Group, Inc

$257,336*

105,904 Common UnitsThe Opportunity Fund, LLC

(Private Equity Fund)$3,163,352*

*MARKET VALUE (ASSETS SHOWN ON BALANCE SHEET AT COST BASIS FOR GAPP ACCOUNTING)

Business confidential: Not for further dissemination without consent of Cardinal Energy Group11

Colusa County, CaliforniaNatural Gas Wells

Oil & Natural Gas Wells

Holmes County, OhioOil Wells

Pawnee County, KansasTank Battery / Oil Well


The Cardinal Energy Investment Values

1 Seasoned Oil & Gas Team

2 Strong Financial Founder

3 Current Income Stream

5 Stable Financial Strategy

6 Attractive Exit

with over 150 years combined experience

Timothy Crawford

from our producing wells

strong oil and natural gas reserves

Public Company

4 Future Income Stream from our current acreage


Cardinal Energy Group Management Team

Timothy W. Crawford – CEO

James McCabe – President

Daniel C. Troendly – CFO

John C. May – Senior Vice President

Terrence Dunne – Vice President

Chuck Kendall – Business Development

Roger Gray – Field Operations Director

Tactical leadership protecting the investment

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Timothy W. CrawfordCEO / Director

23 yrsExperience

• Structured and participated in taking The Banc Stock Group, Inc (BSGK) public in 1997, was the numberone performing stock on the NASDAQ in 1998 and subsequently changed the name to Diamond HillCapital Management, Inc. (DHIL) in 2001

• Participated in underwriting more than $44 million in stock for community banks and managed assetstotaling more than $50 million while at BSGK

• Structured and secured capital for First Capital Bancshares of Bennettsville, Citrus Bank, Northern StarBank, Bank of Godfrey, Southeast Commerce Bank (currently e-bank.com) and Saratoga Bank

• Grew Capital City Partners from four founders to regional financial service firm with more than 75professionals in 5 states specializing in Wealth Management, Investment Banking and Insurance

• Structured acquisition of 200 energy properties in 11 states for $11.7 million for CETG in 2007• Structured Reverse Merger of Capital City Energy Group (CETG) into public company in 2008• Formed and authored all Committee Charters and 10b1-5 stock purchase plan for CETG• Authored Super 8-K, finalized and signed 8-K and 10-Q’s for CETG• Co-Founded Manx Energy and assisted in structuring the roll-up of several energy companies with

Prospect Capital (Public Company symbol - PSEC)

• CEO / Director – Cardinal Energy Group, Inc (Public Company Symbol - CEGX)• Managing Partner – Northstar Capital, LLC• Executive Vice President/Co-Founder – Manx Energy, Inc• Co-Founder/Director – Continental Energy, LLC (merged into Cardinal)• CEO/Chairman of the Board/Co-Founder – Capital City Energy Group, Inc (Public Company Symbol - CETG)• CEO/Co-Founder – Capital City Partners Inc• Senior Vice President – McDonald Investment Group (Public Company Symbol - KEY)• Senior Vice President – Diamond Hill Capital Management, Inc (Public Company Symbol - DHIL)

Education: T he Ohio State University – Business AdministrationThe SEC Institute – Certified Officer for a Public Company

Track Record

Highlights

14


James McCabe

15

35 yrsExperience

Track Record

Highlights

• President / Director – Cardinal Energy Group. Inc. (Public Company Symbol - CEGX)• Supervisor of the Big Foot oil field acquisition• Formed and operates Diamond Energy Services• Led the acquisition of the Big Foot Field in South Texas • Founder SanAnco Energy Corporation, a predecessor of Maverick Energy Group, LTD• Founded McCabe Petroleum • Began his career as an independent oil and gas investor • Helicopter pilot - United States Marine Corps

Education: Trinity University, San Antonio, Texas– Bachelors of Arts degree.

President

• Mr. McCabe has over thirty years of experience in the petroleum industry in executivemanagement, financial and corporate development. He began his career as anindependent oil and gas investor.

• Mr. McCabe has been responsible for the development of many novel tools and techniquesfor Ultra-Short Radius Horizontal Drilling, working with partners Amoco and WellTec. He hasworked to acquire, develop, and commercially use short radius horizontal drilling technologythrough companies he helped found, including Horizontal Systems Inc., Directional DrillingSystems, Inc., Sidewinder Tools Corporation, and Vector Drilling Company.

• In 2003, Mr. McCabe led the acquisition of the Big Foot Field in South Texas, previouslydiscovered and owned by Shell Oil Company from 1946 to 1991 and consisting of 7,000 acresand 600 wells. Mr. McCabe was responsible for supervision of the Big Foot Field until 2012.


Daniel C. Troendly

16

32 yrsExperience

Track Record

Highlights

• CFO / Director – Cardinal Energy Group, Inc (Public Company Symbol - CEGX)• Consultant – Various Oil & Gas Operators in the Appalachian Basin• Controller – Atlas Energy Resources (Public Company Symbol - ATLS)• CFO – Knox Energy, Inc.• Controller – Kilbarger Construction• Accountant – Guernsey-Muskingum Electric COOP, Inc.• Controller – LandProvest, Inc.• Controller – Designer Accents, Inc.• Controller – GEM Energy Corporation

Education: Miami University in Oxford Ohio – BS in Finance and AccountingMember: Ohio Petroleum Accountants Society

CFO / Director

• Started as a Drilling and Completion accountant at Atlas Energy.

• Promoted to Drilling and Completion Controller with a department of 8 employees overseeing an

annual drilling budget of $200 million while at Atlas Energy.

• Responsible for tracking all well completion costs, tracking total program costs, tracked inventory

related to well completion and operating, oversaw joint venture operations billing and disbursements

and worked with joint venture partners on various drilling projects at Atlas Energy.

• Oversaw all accounting functions while at Knox Energy including year end financial reporting,

negotiated credit lines with banks and created efficient flow of information for auditing firm.


John C. May

17

22 yrsExperience

Track Record

Highlights

• Senior Vice President / Director – Cardinal Energy Group. Inc. (Public Company Symbol - CEGX)• Partner – Northstar Capital, LLC.• Managing Director – The Opportunity Fund• Chairman and CEO – Advanced Treatment Processes, Inc.• Founder and President – JCM Capital• Founder CEO – Virtual Destinations Inc.• National Sales Manager – Kokopelli Records• Warranty Technician - Andersen Window Corporation • Artist Development & Production - MCA Universal / Katz Entertainment Group

Education: Penn State University – Liberal Arts

Senior Vice President / Director

• Founder/President of JCM Capital a Business Consulting Company. Established in 2000 JCM providesinvestment banking and corporate consultancy with a specialty in organizing private companiesseeking to become public.

• AT&T Cell Site Power Survey - a JCM project ($1.8M) conducted for Y2K compliance. The projectinvolved surveying the back-up power supplies at each of AT&T’s cell towers in their national grid.JCM recruited 43 technicians from around the county and produced the video to remotely train theteam.

• Worked with numerous public companies as consultant, serving as a board member or as seniorexecutive.

• Mr. May has experience in manufacturing, construction, communications, technologyand product development

• He has strength in business writing, contract formation, FINRA disclosures, publicity and investorrelations.


Terrence Dunne

18

42 yrsExperience

Track Record

Highlights

• Vice President / Director – Cardinal Energy Group. Inc. (Public Company Symbol - CEGX)• Owner – Terrence J. Dunne & Associates – Consulting for acquisitions, mergers and reorganizations• Owner – Terrence J. Dunne & Associates – CPA firm with specialty in audits of publicly held corporations• Staff Accountant – LeMaster & Daniels – An Eastern Washington CPA firm• Staff Accountant/Auditor – Spokane County Auditors Office – Specializing in accounting for federal grants

Education: Gonzaga University – Bachelors degree in accountingGonzaga University – MBAGonzaga University – Masters degree in taxation

Vice President / Chairman of the Board

• Assisted several smaller emerging companies to obtain financing and to go public via the reversemerger process, with specific emphasis on companies in the natural resource industry (oil and gas,mining).

• Founded Gold Crest Mines, Inc. in 2006, with the company becoming one of the largest owners of statemining leases in Alaska. Gold Crest has recently agreed to sell the mining leases to an Australian publiclyheld mining company for $100,000 cash and $3 million in common stock.

• In 2010, assisted in the reverse merger process with Cleanwind Energy Towers, which has developed theengineering and technology for generating electricity from down-draft concrete towers. The first twotowers are scheduled for construction near San Luis, AZ.

• Assisted in raising capital for Daybreak Oil and Gas, which operates several oil wells near Bakersfield, CA.

• Assisted in forming Blue Arch Resources, which has developed technology for processing drilling mudfluid and economically recycling components of the used drilling mud fluid. This company is based inHouston, TX and is working with a large energy company for full scale field operations. Blue ArchResources is planning to go public within a year.


Chuck KendallDirector of Business Development

30 yrsExperience

• Director of Business Development Cardinal Energy Group, Inc. (Public Company Symbol CEGX)• President Continental Energy Group – Columbus OH• President Avanti Energy Partners, Inc. • Managing Partner Chase Energy Group, LLC• President E&P Division of Capital City Energy Group, a publically traded company (Public Company Symbol CETG)• Owner PertroSearch, Inc. • Owner Petroleum Land Services Company• Director of Operations Giant Petroleum Corporation, Tulsa OK• Land man with Giant Petroleum Corporation, Tulsa OK

Education: Ashland University

Track Record

Highlights

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• Prior to joining Cardinal he served as President of Avanti Energy Partners, an oil & natural gasoperating company which focused its operations in the Appalachian Basin. Avanti EnergyPartners is a wholly owned subsidiary of Capital City Energy Group (CETG), a diversified oil &natural gas company which is publicly traded.

• In 1980 he founded PetroSearch, Inc. (formally known as Petroleum Land Services Company)where the company provided leasehold acquisition and other land related services to the oiland natural gas operators throughout the Appalachian Basin. While at PetroSearch hemanaged all Ohio lease acquisitions, was responsible for surveying, performing land title workas well as permitting new drill sites for the company.

• Among his PetroSearch clients were Great Lakes Energy Partners, Belden & BlakeCorporation, Viking Resources Corporation and Schreiner Oil & Gas, Inc. where he wasresponsible for surveying, land title work and permitting new drill sites.


Roger M. Gray

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• Director of Field Operations – Cardinal Energy Group, Inc (Public Company Symbol – CEGX)

• Vice President of Land Management – Continental Energy, LLC (merged into Cardinal)

• Vice President – Capital City Energy Group, Inc. (Public Company Symbol – CETG)

• Vice President/Co-Founder – Energy Marketing Services, Inc.

• Vice President/Co-Founder – Gray Energy Group, Inc.

Education: The Ohio State University – Persuasive Communications and Business Administration.

Member: The Alpha Tau Omega Fraternity

Director of Field Operations

• Responsible for locating and acquiring lease acreage as well as reviewing potential wellremediation prospects for the Company’s portfolio and Joint Venture Partnerships.

• Oversees the day-day supervision of all well investments for the company and assures that allcompliance regulations are met by the Company and oil & gas partners.

• Co-Founded Energy Marketing Services, Inc., a natural gas marketing firm. Was responsiblefor all aspects of sales and marketing.

• Co-Founded Gray Energy Group, Inc. and was responsible for structuring investmentportfolios in oil and gas properties as well as the day-to-day operations of the energyinvestments.

29 yrsExperience

Track Record

Highlights


Professional Service Providers

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Corporate Law Firm Legal & Compliance, LLC Laura Anthony, EsquireWest Palm Beach, Florida

AuditorMalone & Bailey, LLPJay Norris, PartnerHouston, Texas

Accounting / Tax ServicesDever & Company, IncPortsmouth, Ohio

Rigorous Background & Financial Screening Isaac Wiles Burkholder & Teeter, LLCColumbus, Ohio

Geological Review & Opinion Certified AAPG Petroleum Geologists


[email protected]

[email protected]

[email protected]

Stock Symbol: CEGXwww.cardinalenergygroup.com

855.OIL.4959 toll free ō 614.459.4959 local ō 614.389.6643 fax

6037 Frantz Road ō Suite 103 ō Dublin, Ohio ō 43017

FOR DETAILED INFORMATION ABOUT THE COMPANY GO TO WWW.OTCMARKETS.COM AND ENTER THE STOCK SYMBOL “CEGX”

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