Calgary, Alberta — January 12, 2026 — Leads & Copy — Cardinal Energy Ltd. (TSX: CJ) has confirmed its January dividend of $0.06 per common share, payable in cash on February 17, 2026, to shareholders of record on January 30, 2026. The dividend has been designated as an “eligible dividend” for Canadian income tax purposes.
The company also announced that it has exceeded the nameplate capacity (6,000 bbl/d) at its Reford SAGD project approximately two months ahead of schedule. Early productivity from the wells has been stronger than anticipated, with the Company forecasting Reford volumes of 6,500 bbl/d in the first quarter of 2026.
Cardinal is electing to defer disseminating its 2026 guidance at this time, citing the volatile crude oil price environment. In the interim, the company intends to operate on a net debt neutral basis, which includes servicing its monthly dividend with the remaining capital directed toward moderated and prioritized drilling, completion, and maintenance activities in both its conventional and thermal assets.
The company states that it is well equipped to navigate short-term weakness in crude oil prices with the help of Reford production volumes expected to vault Cardinal’s total corporate production to record levels in Q1/2026. Should oil prices strengthen through US$60/bbl WTI, the additional funds flow will be directed towards increasing conventional oil activity, thermal exploration initiatives and reducing debt.
The company looks forward to updating its shareholders with formal guidance as it gains more clarity on where crude oil prices are headed in 2026.
Cody Kwong, Business Development Manager can be reached at info@cardinalenergy.ca or (403) 234-8681.
Source: Cardinal Energy Ltd.
