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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 Quintessential1on Sep 26, 2023 9:01am
137 Views
Post# 35654112

RE:RE:RE:RE:RE:RE:Oil goes up and stock goes down too funny

RE:RE:RE:RE:RE:RE:Oil goes up and stock goes down too funnyThanks P.   Like I said monthly updates did not help GXE but only served to show how much more they were spending than making and then prompted sell offs and a divy cut.  Probably too soon as it turns out as the August update showed them making money and paying down some debt.  If they were making money in August its safe to assume that CJ was too or at least breaking even and making money now with WTI 20% higher plus. 

Hey I don't recall a $7.42 sale after the $716 sale.  That is what a 19 cent gain and a buyback in at $7.23 again?  Not a bad gain over a 6 cent div.  It seems like the volatility is still here it is just the swings have changed their price range.

We could see a Fall update before the ER on Nov 6 with slightly improved production numbers.

GLTY and all 
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