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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 TheWokeLemmingon Aug 11, 2023 4:08pm
177 Views
Post# 35584544

RE:I don’t get it. Oil is at yearly highs and CJ hasn’t budged

RE:I don’t get it. Oil is at yearly highs and CJ hasn’t budgedI think CJ needs WTI $85+ before buying back any shares and a share price closer to $8.  I used to believe their divvy allowed for more FCF but was clearly wrong.  They have put all their eggs into the .06 divvy probably a mistake in hindsight.  If you want torque, look at ATH or BTE.  CJ is safe and boring when WTI sits $80-$85.  My opinion only. 
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