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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 VeritasVernon Sep 02, 2023 10:00am
277 Views
Post# 35617397

RE:sold today but will likely be back

RE:sold today but will likely be backTrue that this stock has risen and retracted consistently in past and we know that is based on oil sentiment/news which directly affects the direction of the price of oil. The main stories that seem to swing oil prices are bullish fundamentals on the upside, versus recession in the US/China most recently.  However of late it appears the fundamentals are clearly emerging as the dominate factor. The latest EIA inventory showed a massive decline of 10.6 million barrels with the Saudi mostly likely committed to producing less. The US has began to fill the SPR which is now a bullish affect just when supplies are contracting. I still believe the oil market is and has been manipulated clearly for profit reasons and I wouldn't rule out how the politics of having oil in the 70-80 range has had some affect. There will be more swing prices and opportunity to trade for sure but it may be in the new range of $80-95 in this last quarter and the million dollar question is when to get out/in.  
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