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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 BadShituationon May 05, 2021 1:31pm
85 Views
Post# 33133067

RE:Share Price

RE:Share PriceOil really needs to stay strong to support this share price IMO. Or some good news.

EIA was pretty good imo, but some of this up move in WTI feels like shorts getting walloped

Plenty of room to go up in the mid/long term but short term we may get some distribution and sell off slightly.

I was pretty comfortable selling some covered 3$ calls this am over 3.20$ to lock some of that in. Not sure if i will sell l any more tranches yet. was on the ask at 0.35 but no go., this is a core position so if i need to buy back a little higher at expiry will. Pretty bullish on oil this year but its never a straight line up.

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