Post by
divime1 on Jul 28, 2022 9:29pm
Cardinal is
laser focused on getting debt to zero . They were almost put out of business by the National Bank . You rarely see a bank singled out in a news release but Cardinal did it . Long time holders will remember this .
Message to Shareholders
Enclosed is our update for Cardinal as of January 2021.
2020 started off in a bullish fashion with oil prices moving up significantly and Cardinal beginning an 8 well drill program. Then, as we all experienced, the world changed. We spent the balance of 2020 in a survival mode. This was compounded by the unprecedented behavior of National Bank which made for a challenging time.
Comment by
Luckyguy777 on Jul 28, 2022 10:22pm
Yes of course I remember that. It is around the time I bough a few 100k shares and continue to hold. These are crazy times.
Comment by
Stavkot on Jul 29, 2022 1:21am
It was around the time I sold most my shares for $1.50 before they dropped to $0.30ish. Around the time that OPEC+ blew up at eachother. I still have big losses on CJ, need to see $15 unfortunately.
Comment by
Kadiddelhopper on Jul 29, 2022 1:31am
Your experience reminds me of Surge SGY...I look at it, but can't seem to rouse any enthusiasm to climb back into ole Surge.. because of it. I will not likely pay income tax for the rest of my life... the Capital Loss was too great !
Comment by
7Twiggy on Jul 28, 2022 10:46pm
What was the "unprecedented behavior of National Bank"?
Comment by
Kadiddelhopper on Jul 28, 2022 10:58pm
Calling in their Credit Lines, essentailly setting them " Adrft " w/o a raft.... all because of the mantra on dirty oil, with no future or need.