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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

Post by Tradestayon Jun 03, 2022 4:35pm
271 Views
Post# 34730751

Cardinal should outpace it peers.

Cardinal should outpace it peers.
let's keep it simple: strong FCF, debt will be under $100M by end of 3rd Q 22. Dividend on the way, ARO activiy is quite good. This means less longterm liability with a company that can handle swing to lower oil prices. I will monitor and pick it shares when I can here with the FCF special dividend will nor be surprising. As well not too many shares outstanding, a buy back will be great fo days like today. Lets see by Q1 23 debt should be nearly gone so NCIB might be on the table as well. Overall the ARO, debt reduction, production on amd exceeding target and a divy in my opinion are solid reason for the valuation.
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