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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.


TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > Drop
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Comment by GoldenArmon Mar 15, 2022 11:19am
225 Views
Post# 34515119

RE:RE:Drop

RE:RE:DropDefinitely price of oil is not determined by Putin but by speculators. Either the US is shorting the oil market or speculators have bailed (but will be back). Nothing has changed in Ukraine.

The drop in stock price is definitely shorts and weak hands bailing as they do and don't blame them since they are only looking for a quick buck. CJ had solid revenue growth and earning for Q4 2021 and their Q1 2022 numbers are gong to be great thanks to $130/bbl peak price.

I'm surprised by one thing. They averaged $77/bbl price Not sure why so low since in Q4 2021 the price for oil spike to $90/bbl (smeone correct me if I'm wrong). With the cold winter the US had demand was high.
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