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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 Tradestayon Jan 18, 2023 2:26pm
305 Views
Post# 35231237

RE:Buying back shares

RE:Buying back sharesEveryone will have their own opinion, the reason for buyback is how they see the value of the company it future cash flows. Debt is not a concern for this company, it is well below $50M by now. The company believes in the future of oil and so does many others, they know their dividend is safer in the $60 range. Thus they are buying the shares now to reward the longterm holders who cam wait longer that most retail can. The big dogs with 10M shares loves the buyback and wants it because they will be holding this puppy 5 years from now. So for example 20M less share in this name is so much more divh for them and valuation. Remember these guys and girls use their portfolio on margin  so they like a buyback as it increase their margin protection as well. 
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