RE:Another Excellent Proxy Cardnial energy CJ is a great comp
Currently pumping 21,700 BOPD
netback 42.72
2023 budget highlights:
- Generate adjusted funds flow of $270-million at an $80-(U.S.)-per-barrel WTI (West Texas Intermediate) price;
- Maintain net debt level below $50-million;
- Dividend level maintained at six cents per share with potential for further shareholder returns through a normal course issuer bid or dividend increases;
- Executing a $97-million capital program, which includes drilling and completion of 19 (17.6 net) wells, which are expected to increase production 3 per cent over its 2021 average production rate;
- Investment of $23-million for ARO, which is approximately 250 per cent of its required spend continuing with its environmental, social and governance focused activity;
- Average annual production at approximately 22,000 boe/d.
Shares outstanding
158,300,000
trading between the 7-9 dollar range for the last year
current market cap 1.1 billion
Paying a .06 cent divy per month
Vle has a much smaller float
we will see