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) > Headwater Exploration Inc.

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Post by Khersonon Nov 29, 2022 6:57pm

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Post# 35138187

Headwater Exploration Inc.

Headwater released their 3rd Quarter results on November 3rd. The following quotes along with the recent unusal trading activity has me thinking that we are gonna be involved in a merger...

As at September 30, 2022, Headwater had adjusted working capital (1) of $118.0 million, working capital of $113.4 million and no outstanding bank debt.

Credit Facility

Headwater has executed a commitment letter for a credit facility in the amount of $100 million with a senior lender. With the 2023 guidance as outlined, Headwater does not intend to draw on the credit facility.

Kherson

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