Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

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)

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Comment by codyesson Jul 21, 2017 11:46am

101 Views

Post# 26495096

RE:Apache Acquisition Costs As Per CJ Release

Thus meaning the recent purchase will not show on Q2s coming up?

when2buy wrote: In my earlier post, I inadvertently took the headline deal number of $330M for 5000 boepd equivalent which was the initial expected price (i.e. $66K per flowing barrel). With adjustments (looks like 4% decrease alone due to CDN/USD currency improvement in June)

From CJ's own release the numbers were as follows:

"Based on the revised estimated closing price of $300 million CDN, the deal metrics are as follows:

$60,000 per flowing boe (100% oil and NGLs)

Recycle ratio of 2.1X(1)

Adjusted funds flow multiple of 5.5X (2)(3)

Notes:

See "Oil and Gas Advisories".

See "Non-GAAP Measures".

Based on $55 million of annualized operating income from the acquired assets.

As far as the sale of RI's etc, that is basically for the marketing department. Street uses the headline number, not RI sales that may or may not happen in the future at an unknown price. CJ PR in fact states any RI sales may not occur until Q3 to Q4.

CJ Final Apache Acquisition Numbers_From CJ's PR