Cardinal Energy Ltd (Alberta) CRLFF

Primary Symbol: T.CJ

Energy Oil & Gas E&P

Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties.

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Cardinal Energy Ltd (Alberta) > Not sure why we are a 6 and change stock at close to 80 oil

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Comment by Pandoraon May 14, 2024 11:45pm

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Post# 36040278

RE:RE:Not sure why we are a 6 and change stock at close to 80 oil

Divypro wrote: CJ is going to be weak until early next year due to the high capex for the SAGD project. If you read q1 report they actually added 30 million in debt. Cash flow at $80 oil likely cannot cover the costs of the project so debt will likely creep up until mid next year.

And at twice the price and a slightly lower divvy does anyone think Peyto would be a reasonable alternative.

Never hear too much about it.

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