James Monroe Capital Corporation Initiates Merger with Cardinal Energy Group, Inc. (CEGX)

SALT LAKE CITY–(BUSINESS WIRE)–James Monroe Capital Corporation (OTC:JMON) (the “Company”) entered into
a Memorandum of Understanding with Cardinal Energy Group, Inc. (CEGX) to
initiate a Merger between Cardinal Energy Group, Inc. (CEGX) and the
Company.

The Chairman and CEO of James Monroe Capital Corporation agreed that it
would be in the best interests of the shareholders to merge both
companies.

About Cardinal Energy Group, Inc.

Cardinal Energy Group, Inc. is an environmentally responsible
independent oil and gas producer focused in north-central Texas. We are
engaged in the business of acquiring, developing and operating oil and
gas leases. These operations are primarily focused on properties in
which we hold a leasehold interest. We may however, from time to time,
offer our drilling and field development and production services to
third parties. We may offer these services to other oil and gas
companies on a fee basis or we may offer such services in connection
with the offering of participation interests in Development Drilling
Programs to accredited private investors. We are focused on growth via
the development of shallow proven undeveloped reserves in or adjacent to
currently producing fields, exploiting untapped reserves by
re-completing existing well bores in zones overlying currently producing
formations and by the selected application of water flood and other
secondary recovery techniques to mature but marginally producing fields
throughout north-central Texas. We may enter into agreements with third
party mid-sized and small independent oil and natural gas companies to
drill wells and own interests in oil and natural gas properties. We also
may drill and own interests without such strategic partners.

Forward-Looking Statement

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and as such, may involve risks and uncertainties. These
forward-looking statements relate to, amongst other things, current
expectation of the business environment in which the company operates,
potential future performance, projections of future performance and the
perceived opportunities in the market. The company’s actual performance,
results and achievements may differ materially from the expressed or
implied in such forward-looking statements as a result of a wide range
of factors.

Contacts

James Monroe Capital Corporation
Joseph Herran
904-310-5784
info@jamesmonroecapitalcorp.com