Cardinal Energy Ltd (Alberta) T.CJ

CJ Hit A Homerun

[bonjovi501]

One of the best results of an oil company that I have seen in many years. I expect a good pop tomorrow and heavy buying as the week goes on. I should have bought more on the dip today.

[kavern23]

I totally agree. The low capex to keep the production decent is such a major advantage. CJ being privitzied or being bought out is a huge risk right now. Most companies are down 20% in production Q4 2020 vs Q4 2019 while still spending a decent amount on capex. Look at Whitecap. They were near 750000 BOE at Q4 2019. They bought Nal who were at like 28000 BOE and Torc was like 25000 BOE. White

[re1ndeer2011]

Must agree, 50% to 100% gain by Q4....Zero debt possible in four years, which brings buyout or privatization possible....Just excellent quarter

[kavern23]

I like this part: A one percent change in the discount rate or a five percent change in the forecasted oil and gas commodity prices over the life of the reserves would result in changes in impairment of $2.8 million and $57.6 million, respectively. And then look at the prices used: WTI WCS AECO Exchange rate (USD $/bbl)(1) (CAD $/bbl)(1) (CAD $/mmbtu)(1) (US/CAD) 2021 47.17 $   &

[JohnBP1]

Thanks for the insights K...    As you said earlier, CJ could be a traget especially if the third wave of covid is crushed. However it will continue to follow the oil price. Surprised that CJ did not do better yesterday compaird to similar oil companies considering the results were pending and we all thought CJ has to have a reasonable quarter (at least some of us).  Time to top up

[MrICE]

Yes we need some good Crude Oil Inventory numbers to help out CJ's good news.  good fed news would help too.