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) > Has Cj done it?

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Comment by divime1on Feb 14, 2023 8:08pm

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Post# 35286428

RE:RE:Has Cj done it?

They stopped buying back shares . The last they bought back was 24,156 on Nov 1 so they are concentrating on paying down debt and dividends ..

They paid down $ 25 million of the debt in the 3 rd quarter to stand at $ 42 million on Sept 30 . I perdict they will be debt free around May of this year unless they front load the CapEx .

The lower it gets the much less interest they are paying so that will also help to decrease it faster .

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