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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

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.


TSX:CJ - Post by User

Comment by Chris_torontoon Sep 23, 2019 9:34pm
119 Views
Post# 30157125

RE:RE:RE:RE:RBC Initiates overage with $3.50 PT - Globe and Mail

RE:RE:RE:RE:RBC Initiates overage with $3.50 PT - Globe and MailFor one thing, the small Canadian producers only have sour crude to sell.

You know the upcoming new regulations about sulfer and now with the Saudi plant destroyed, even
Saudis only have sour crude to sell. The big need is for sweet, heavy or light, but it has to be sweet.

I only know of 3 Canadian players who can offer sweet crude to customers; Suncor, CNQ and Husky.

That's what your producers are missing and it's a biggie. There are other reasons why they don't
make good long term investments but on this issue alone, they will always be at a disadvantage in
terms the kind of cash flow they are able to generate. And that's part of the reason why the big players,
especially Suncor, have that monstrous cash flow coming in quarter after quarter.
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