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) > Letter sent to CJ Management today

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Comment by MikeNewTrader11on Nov 29, 2022 6:54am

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Post# 35135876

RE:Letter sent to CJ Management today

IMO Debt reduction is their only priority.
if I read deck 3 correctly they said their interest payments was nearly as high as the dividend payment. Q dividend 22.8 mil / Going into Q3 62 mil in debt = 37% rate. They should carry the debt on a credit card it would be cheaper. I am long and concerned if that is the rate they are actually paying. GLTA

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