Sept 15 (Reuters) - Cardinal Energy Ltd CJ.TO :
* Announces light oil acquisition, financing and 2016 guidance
* Says purchase price for the acquired assets will be approximately $129
million
* Says acquisition is expected to be accretive to cash flow from operations per
share by 25% in 2016
* Says Cardinal anticipates it will be able to reduce operating costs on the
assets in 2016
* In conjunction with deal, has entered into a bought deal financing to raise
$100 million
* Says acquisition is joint acquisition between co,private company that has
common directors and shareholders with Cardinal
* Says bought deal financing to fund the estimated purchase price of the
acquisition
* Says balance of the purchase price will be funded from cardinal's syndicated
credit facility
* Sees 2016 average production of 14,600 boe/d
* Sees FY 2016 development capital expenditures $35 million with acquisition
and offering
* Says announced light oil acquisition in the mitsue area of Alberta
* Cardinal will acquire a 75% working interest and the private company will
acquire 25% working interest in assets being conveyed
* Source text for Eikon ID:nCCN9bJZhJ
* Further company coverage CJ.TO