Mr. Shawn Van Spankeren reports

CARDINAL ENERGY LTD. ANNOUNCES APRIL DIVIDEND

Cardinal Energy Ltd. has confirmed that its April dividend of six cents per common share will be paid on May 15, 2024, to shareholders of record on April 30, 2024. 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 is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. Cardinal differentiates itself from its peers by having the lowest-decline conventional asset base in Western Canada. Cardinal has recently announced the commencement of its first thermal SAGD oil development project which will further increase the long-term sustainability of the company. Cardinal works to continually improve its environmental, social and governance profile and operates its assets in a responsible and environmentally sensitive manner.