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CRS

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Share Name Share Symbol Market Type
TSXV:CRS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Cardiff Energy Corp. Announces Entry into Mississippi Lime Play, Osage County, Oklahoma

06/08/2013 3:43pm

Access Wire


CARDIFF ENERGY CORP. (the "Company") (TSX-V: "CRS") is extremely pleased to announce that they have signed a Letter of Intent with Superior Oil and Gas LLC of Oklahoma which will grant Cardiff an exclusive 3 year option on 1000 acres in Osage County, Oklahoma. These lands are within the proven limits of the emerging Mississippi Lime play of south Kansas and northern Oklahoma. Upon confirming title and conducting a technical review to determine the feasibility of drilling a horizontal well on one of the three leases, Cardiff will make an election to proceed or consider alternative strategies.

PROJECT OVERVIEW:

Osage County: MISSISSIPPI LIME PLAY

The Mississippi Lime Play has been gaining momentum in south Kansas and northern Oklahoma over the past three years. Some published reports have suggested that this play may have a higher rate of return than the Eagle Ford and all other oil shale plays in the United States. Some initial completion rates have been reported in excess of 1000 barrels of oil equivalent per day. Due to its shallow depth, low reservoir pressure and higher natural porosity, this is a relatively low-tech and cost-effective reservoir in which to drill and complete horizontal wells. As an added benefit, the infrastructure to dispose of water and get oil and/or gas to market is readily available on this lease.

Within the past year, a horizontal well has been drilled and completed immediately offsetting these lands which has reported an initial production rate of 700 barrels of oil per day. This well, along with the momentum of the Mississippi Lime play in general, has prompted Cardiff's initiative to become involved in this emerging and expanding regional play.

OTHER NEWS: Cardiff's 50% partner on the Buzzard Sand project, Tamarisk Energy Corp, has quitclaimed their interest to Cardiff to pursue other business.

About the Company

Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com.

For additional information contact:

Greg Campbell, Secretary

Cardiff Energy Corp

604-505-4380

greg@cardiffenergy.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Lorne Torhjelm"

Lorne Torhjelm,

President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.


The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

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