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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 Wildfuryon Nov 17, 2023 9:30pm
661 Views
Post# 35742235

BOE REPORT

BOE REPORTVery interesting article by BOEREPORT. COM,  as I stated yesterday about Cardinals plans for a Thermal SAGD plant to be built in Saskatchewan, Redford. By 2026, Cardinals boep will be over 30,000 per day, that's 30% more that current production. That means faster timeline to eliminate all debt which is peanuts compared to other energy companies. The plus side is we get paid every month with a respectful dividend, a relatively small share float, under 160 million, large insider holding. Here is part of the article, enjoy. With respect to Cardinal’s plans, the company appears to be taking a “conservative” approach to its thermal oil project that is highlighted by the development of a 6,000 bopd SAGD facility, with 3 potential sites identified. All told, this a major growth opportunity for Cardinal Energy in an increasingly active sector of the Canadian oil patch. Should Cardinal Energy’s production from this asset reach its 2026 target of 6,000 BBL/d, it would represent a 32.6% increase over the company’s present oil production. This, when combined with the company’s growing Clearwater presence, make Cardinal a company worth keeping an eye on.
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