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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

Post by CountryBoy69on Oct 15, 2023 3:34pm
353 Views
Post# 35684481

Quinnie

QuinnieI decided to respond to your post about a CJ aquisition of GXE even if somewhat overdue. In the past we have had issues on a couple of topics not directly related to the stocks on question , and that has not changed , but your take on the possibility of both CJ and GXe is spot on and very informative , and yes l own both but like your c'mon to tell you where to go , l won't , reason 1 l would be removed , reason 2 l agree on about 90 percent of what you said. In my opinion , the only flaw in your GXE take was , with the new mgmt iniatiatives the recent land aquisitions and their debt reduction , quite rapid since August would seem to me to command a somewhat higher premium , l would suggest more like 40 percent especially considering current conditions and they would be aquiring not only land but immediate revenues at this higher price. I also don't see it as a weakness for GXE looking to increase sharehoder value as that Div cut as you said was highly premature, based on today. Of course they could reinstate that div and l believe that would be in the best interests of shareholders like me who want to see a few more quarters at least of debt reduction and production results. If CJ were to make an attempt then they should be accumulating at these low prices , in the long run it would be better and l agree the labour pool  available of good people would be a bonus and l after having a number of personal phone calls with GXE Ingram Gilmore would consider him as a very useful asset to CJs Head Office.You take care now and yes l like you welcome any responses to what we both posted.
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