Cardinal Energy Ltd (Alberta) T.CJ

Comparison to MEG

[TheWokeLemming]

CJ is similar to MEG in that both are unhedged.  Two weeks before earnings, MEG began making its move.  It's now up 33% since April 11.  

CJ began making its move last Wednesday when price was 6.70.  A similar 33% puts us at $8.91.  CJ started much further back from its 52-week high as well.

[1rhapsodyoilfan]

This post has been removed in accordance with Community Policy

[masfortuna]

If you like to see what we can expect next week, GXE (GEAR) just posted their Q. They are MUCH smaller than CJ but they will put aside 30% of free cash flow from this point onwards. They are giving a divy of 4.4%, buying back 10% of shares, and will institute a special dividend. They are debt free as of April. I think CJ is placing 50% aside.  This bodes well! Mas

[masfortuna]

And oil has broken out to the upside from its wedge formation as the icing on the cake :)

[Luckyguy777]

I read the GEAR post also (and I own a relatively small amount of it).  Definitely not the same category for FCF that CJ will have.  Also, the numbers they presented were based on current oil pricing.  That is okay because they announced a variable dividend which will also be based on previous quarter cash flow.  I guess, there are no guarantees on any future dividend but I was

[whereshunter]

plus, there will be a dividend annoucement with earnings

[upupandaway7]

When does CJ report earnings?

[divime1]

2022 Q1 – May 12, 2022 *After Market https://cardinalenergy.ca/investors/investor-information/

[TheWokeLemming]

8 days time.   I'm expecting big things.   Other companies that are 50% hedged have had excellent earnings.  Combine the fact CJ will get full pricing and are on the verge of implementing a divvy and I see big possibilities from today's close.   My opinion only. 

[masfortuna]

Next week Thursday.