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) > 2nd quarter thoughts?

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Comment by Quintessential1on Jul 13, 2023 10:14am

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Post# 35539162

RE:RE:2nd quarter thoughts?

Inflation dropping...one more shot out of the FED cannon ought to do it.

Oil price rising...demand going nowhere but up and production going down.

"treading water" at over 10% returns is a ok with me.

We might see CJ's production increase with a higher WCS price might mean a little debt paid down.

Any good news will result in a higher share price. Still plenty of torque left to the upside.

GLTA

Pottsy wrote: To me it looks good, however risks going forward are continued recession fears plus the price of oil ofcourse. The divi won't be increased. World demand for oil has just been downgraded by about 200k bpd.

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