Cardinal Energy Ltd (Alberta) T.CJ

Blood bath

[divime1]

on all oil stocks today . Percentage wise we are down the least . Maybe the deal announced last night is saving us further pain .

[Quintessential1]

Makes sense.  Hard to fault an acquisition that will add 3% to production and be paid for before Q4 end. The drop in oil price has all producers down but the EIA report was bullish for oil so ?... GLTY and all  

[kavern23]

Traders/hedge funds are trading on larger news than EIA weekly inventory reports. 500k/ aday of Kurd/Iraq oil that gets sold on a pipeline to Turkey that has been shut in since March, likely a deal soon to reopen this pipeline...timed right after Saudi says their keeping production cut which was today. A 500k reopening of pipeline should equal a 5-7 dollar drop....probably being priced in. If

[meritmat]

  Thought I read somewhere that the oil was being rerouted so the 500k is still gettin to market. 

[kavern23]

No, only a very tiny amount is, stranded oil without that pipeline opened. Kurds have lost billions and piles of unpaid wages. It makes more sense to open this pipeline than for Opec to have Russia or Saudi increase by 500K. This pipeline closure was a way to have Iraq share in the cuts which is a politically tricky thing as Iraq is still rebuilding from war decades ago...production caps for

[egee]

As noted from the pundits, volitilty works in both directions

[jx7000]

Yup, golden buying opportunity yesterday, the 5th of Octy.

[lnggasfor202324]

I couldn't agree more.  John Brussa also agrees, he bought 25000 shares at $6.90.  I would be suprised if cardnal doesnt break out Nov 7 the day after the 3rd qtr earnings release after markets close.  I bougfht The $5.00 calls for Jan 17/25 and Jan 16/26 calls as well as a boat load of shares.

[Quintessential1]

I don't know about fake but it might not be a done deal yet. “We have further meetings soon and things will be more clear on how serious is Turkey to show some flexibility,” the source said, implying that the negotiations were far from complete, and that Iraq expected more movement from Turkey before oil flows could resume.  https://oilprice.com/Latest-Energy-News/World-News/Oil

[kavern23]

I think the kurds are caught up in a political situation. Most of the kurd heavy oil goes to turkey and then to Europe to be refined. Kurd oil is heavy side and great for diesel. Because Europe is low on this type of oil with pipeline shut, Europe is using oil that makes more gasoline instead of diesel. Europe is getting lots of light oil. Whenever it becomes a done deal, it would drive prices

[cfliesser]

I don't actually think so. Iraq is at their quota. They are actually happy to have kurdish oil offline. Because if that pipeline restarts, they can't boost production beyond their quota. Would have to reduce supply elsewhere. The way I see it they are happy to have kurdish oil offline and other oil maxed out, so they get all the quota and the kurds dont. So I think it may take much

[kavern23]

Iraq though still cant upset Kurds too much as Kurds have the tough soliders. It's the Kurds that gave ISIS a licken and spanked them. Iraq military wants no part of experienced and battle hardened soliders that kurds are, Kurds and Iraq gov have already agreed to a deal, kurds hand over  oil and get like 12.5% of state budget. I think holdup is more on Turkey end. Probably putin

[cfliesser]

Maybe, but the narrative I read is that it's turkiye that is ready to open and Iraq that is dragging their feet. 

[egee]

Perhaps the escalating dispute with  Israel  and hammas which was declared a war by Israel will boost oil.  Get ready

[Quintessential1]

Only if it turns into some kind of proxy war like the Russia / Ukraine war. As it stands it looks to be an internal confict of a non-oil producing country although Israel does have a couple of refineries. I would rather speculate on who the private operator is that CJ purchased the increased 21% operating interest from in the Mitsue Gilwood deal? I am also curious if there was a lost leader in

[Pottsy]

Hmmm, Q1, great prospective. Surely the next results will open this up to the investors.  BTW  my magic carpet says BUY, we got a bump on Friday, it says buy Monday but short term for trader's.    P

[Quintessential1]

Just my take P.  I see there are fingers pointing at Iran for funding hamas so increased sanctions against them could become a possibility if the US decides it wants to support Israel more than it wants low oil prices right now.  This could become part of that proxy war I was refering to earlier. It also looks like kavern23 solved the mystery of the assets seller.  My appologies to

[meritmat]

Ya darn near broke even. Dumped Suncor yesterday to jump more in to this so that kinda turned out since SU is Down over 2 bucks.  More fluke then anything.   Have to many shares in CJ know but I have faith they can keep paying the div