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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 JayBankson Aug 01, 2023 7:42pm
218 Views
Post# 35567933

RE:RE:RE:Options

RE:RE:RE:Options

So, you've pointed out an observation without giving context to why you've done so nor made thesis to convey based on this information... Your as clear as mud here.

I just see these call options as earnings/oil price portfolio protections and bets, nothing out of the ordinary at any other time.

I've been playing the Puts on a few names (CJ, CNR, ARE) lately taking advantage of the dips of many names to collect premiums or lowering the cost of increasing my position sizes.

Calls pricing I felt have been poor and in CJ's case they haven't been offering my target prices most months to post offers as I'm not willing to just allow my position to be called away in the the 7/8s... in late winter early spring there were much more interesting Call prices out there to be had. The best call I seen lately, I missed out on was a 3.80 premium on CNR for a January 2024 180 price about 3 weeks ago after hours, I threw a contract out there to pick it up but price dipped majorly the next session and over the week to the point that the only bids were in the low or sub 1s.

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