Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

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.

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Cardinal Energy Ltd (Alberta) > Should CJ be making a play for RZE?

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Comment by Quintessential1on Jan 28, 2024 9:57am

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Post# 35849151

RE:RE:Should CJ be making a play for RZE?

Yeah it is not like it is a lot of production percentage wise for CJ anyway Jay.

I do think the percentage of production is more like 80% light oil and NGLs but I could be wrong.

Not sure what dealing with AIMCo would be like but I am sure CJ's management would.

Also not sure if the diversification into their ESG offshoot of Futera Geo Thermal but CJ is also pursuing ESG projects and if it doesn't fit maybe its sellable along with anything else that doesn't.

GLTY and all.

JayBanks wrote:

Quintessential1 wrote: All low decline rate production right in CJ's backyard.

Distressed sale just when WCS is expected to rise.

Cheap barrels anyone?

GLTA

60-70% of thier production is Natural Gas rather than oil...

Your also dealing with AIMCo...

I'll pass, but hopefully CJ management looks at it and makes a better informed decision than my 20 minute scan...