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) > Dividend Safety

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Comment by riskion Mar 21, 2023 12:50am

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Post# 35350408

RE:RE:RE:RE:RE:RE:RE:RE:RE:Dividend Safety

Drip should be dip and whether should be weather.

I would like to blame autocorrect on my phone which is likely for drip but I think I may have just flat out use the wrong spelling for weather.

sheesh

riski wrote:
Yes exactly, and the drip would have to be more than $60s. CJ can get by paying their dividend and CAPEX at $70, so a prolonged range bound $60ish price wouldn't make them cut, they could whether that with a small amount of debt and did just that in 2014 for quite some time before oil fell through the floor and they cut it in half and then eliminated when things got really ugly.

However, I don't see a prolonged low oil price environment. I still think we are likely heading to $100 this year and this latest banking crisis hasn't changed any of the macro oil data that supports that thesis.

masfortuna wrote: Hello Riski,
I see you are here as well. The company will not touch the divy unless we go into a protracted bear market for energy. By that, I mean 1year+. Companies do not touch divies because of a 1 week drop in the oil markets. I would think that IF at this time next year, oil is below $60 a barrel, then they may consider cutting.