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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil 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. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. 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 OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.


TSX:CJ - Post by User

Post by Bennys65on Feb 16, 2017 6:07am
158 Views
Post# 25853359

mitsue info

mitsue infoNew guy brought on to manage mitsue developement showing us what company thinks about potential.Two play types have 10 percent decline because they get afree ride from existing waterflood pressure in main pool.Not having to frac makes these wells cheap and they will spit money.Second well being drilled and third play  type is in unexplored halo tight rock outside main pool.Exspect highip30 rates followed by typical 60 percent decline.Mitsue has the potential to be a game changer.Scott has said that sucess at mitsue will result in them hitting it hard above the 5 wells by year end
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