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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

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

Comment by Quintessential1on Dec 04, 2022 10:01am
294 Views
Post# 35149336

RE:RE:RE:RE:RE:RE:I’m doubling down when

RE:RE:RE:RE:RE:RE:I’m doubling down when Just going to jump in here and say yeah,  never let paying more in taxes keep you from earning more overall in the big scheme of things. 

That being said I look at the amounts of shares you guys are holding and I can calculate the dividends you are earning as well as you can and I wish I had your problem.  LOL.  I do not.

Your comments about the volatility of this stock, (not necessarily the entire sector), are, I believe, spot on and is why I am here.  I wanted to try swinging a stock and CJ's share price moves a lot with the oil price as let's face it it is basically a one trick pony within the oil sector.  It also pays a hefty dividend so if I get stuck with the share price  moving a little lower than my buy in or running flat for a longer period than I wanted, I still earn a pretty good return compared to most stocks and definately compared to guaranteed investments. 

I do not hold any CJ right now but I am looking to get back in and this pullback is just what I am looking for and if it slides just a little more with a dipping oil price or tax loss selling or just plain old market crazineess, I will own CJ again...happily...as it is a solid company that I would not mind being stuck with at all.

At that point I will want CJ's share price to rise and my thoughts will stray to at what point do I sell or what would change this company from being a one trick pony that will end its volatility and make it a buy and hold name for me and I keep coming back to one thing...natural gas.  Natural gas and to a lesser extent condensate are commodities they already have to deal with albeit in significanlty smaller quantities than crude oil to the point that CJ is known as strictly an oil play.  Were it more gasy to the point of closer to 50% of their production volume I do not believe you would be seeing the pullback in share price that you are now as gassier name plays are now cycling up into their seasonal highs and at lesser dividend payouts than CJ.  A higher payout is not the problem IMO they cannot pay more than they already are.  

A slight divergence into a commodity that they are already familiar with and have to deal with anyway would turn this company into a two maybe three trick pony that might level out some of the volatility slightly and provide it with a longer future than just oil may provide.

Until then i am looking for a slighty lower entry point.

GLTY and all who already own.  It is a good company and a great payout!


JohnnyDoe wrote:
Luckyguy777 wrote: Jodoub,

Similar situation to you. I have more shares but a higher cost as I started buying at $6 and averaged down so I am around $3 cost.  Super happy with management and happy with how things are going.  I do agree with some that capital appreciation here may not be the same as some others but I get the life changing dividend every month.

At some point I will need to sell but I dont really want to pay the tax on the gain when the yield is as good as it is.

GLTA

 
You've hit on the dilemma for many. I'm very happy with the dividend but at some point in the future I'm going to move away from the volatility of oil stocks. But that capital gain tax is lurking. A couple of times looking back I'd of been better off selling, incurring the tax and looking for a pull back


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