Mr. Scott Ratushny reports

CARDINAL ENERGY LTD. ANNOUNCES MONTHLY DIVIDEND FOR SEPTEMBER

Cardinal Energy Ltd.'s September dividend of six cents per common share will be paid on Oct. 16, 2023, to shareholders of record on Sept. 29, 2023. 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 works to continually improve its environmental, social and governance profile, and operates its assets in a responsible and environmentally sensitive manner. As part of this mandate, Cardinal injects and conserves more carbon than it directly emits, making it one of the few Canadian energy companies to have a negative carbon footprint.

Cardinal is a Canadian oil and natural gas company with operations focused on low-decline oil in Western Canada.