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) > NCIB

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Comment by JohnnyDoeon Jun 28, 2022 6:19am

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Post# 34786545

RE:NCIB

TheWokeLemming wrote: Completely unexpected! It appears CJ may have eyes on going private. I still think they increase the divvy July 28 as well. This is exactly what Nuttall was looking for .... too bad he doesn't recognize it. When's that re-rating??? My opinion only.

in the short term it means they've got more fcf than they want to pay out. This is a great move! Push extra fcf into the ncib, ultimately lower the sustainability of the dividend. This time next year I will have consolidated my oil and gas into dividend payers with sustainable payouts in the low 50s.

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