Cardinal Energy Ltd (Alberta) T.CJ

Div safety

[Sirlostalot]

Hello , question for CJ posters , is it fair to say that at 70 wti /15 wcs diff CJ cannot run the ship and pay 6 cents a month ? Can't understand how they had indicated in the past that 5 cents was safe down to 55 wti . Seems troubling that with wti average over 70 in q1 and increased production debt had to increase even by more then the 8 m tax payment.  Is it all the huge wcs differential ?

[divime1]

Many companies have said they will cut Capx before dividends . No drilling in the 2 nd quarter until late May and June . 4 new Clearwater wells came on production in late March  In the first quarter there were capital expenditures of $25.3 million and dividends of $28.7 million . WCS differentials averaged almost US$25/bbl in the first quarter and it is now below $ 13 .  WTI

[JayBanks]

  Adding on to this, they had a Free Cash Flow of $28.8 million... If you remove the CAPEX, theoretically they could have payed an 11.5 cent dividend... or like 9 cents with no increase in bank debt... The dividend is safe, it's just a rough quarter to see on paper after a long streak of things moving in a positive direction... The Company is in great shape, just the numbers look

[mickeymouse]

In addition to cutting their capex they can cut their ARO obligation significantly - they have budgeted 23 million for 2023 and they are only required to spend 9 million - also worth noting is the USD/CDN rate has been consistently better than budget projections - projection was for a .78 exchange rate - currently the rate is about .74 so that .04 equates to 15.6 million in cash flow in excess of

[egee]

I'm spending it