2016-04-27 10:08 ET – News Release

Mr. Jack Bal reports

Cardiff Energy Corp. is providing an update on the status of the Clayton No. 1H well following successful acid treatment. As previously announced on March 30, 2016, the Clayton No. 1H was treated with 19,000 gallons of acid in nine intervals which encountered the highest hydrocarbon shows during drilling.

The reservoir responded extremely well to the treatment; strong pressure was encountered in the well with numerous gas kicks and fluids flowing to surface. The next step was to install a pump to begin pumping off the completion and drilling fluid. The completion team estimates that roughly 3,000 barrels of fluid needs to be removed from the Clayton No. 1H before significant oil cuts will be encountered. To date, over 1,000 barrels have been removed, and, during the next 10 days, the completion team expects to see increased oil shows and to be in a position to prepare the well for commercial production. Once production stabilizes, the company will be in a position to report a flow rate.

To learn more about the company and the drilling of the Clayton No. 1H horizontal well, please visit the company’s website.

The company holds a 70-per-cent working interest in the Clayton No. 1H, and its joint venture partner, Equitorial Exploration Corp., can earn up to 30-per-cent working interest. The company holds a 100-per-cent working interest in Bearcat No. 4.

We seek Safe Harbor.

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