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) > So which is it?

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Post by MikeNewTrader11on Nov 09, 2022 9:08am

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Post# 35084791

So which is it?

First priority reduce debt
or
maintain debt under 50 million

contradictory, if debt is costing us 24 mil a quarter in an interest rate rising environment, the only priority is to pay off remaining debt, sit back for 2 quarters and bank 50 million. Like most any of us would probably do with our line of credits. IMO
cheers

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