Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

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

Cardinal Energy Ltd (Alberta)

Bullboard Posts

Comment by d_trumpon Jun 01, 2017 4:58pm

117 Views

Post# 26313563

RE:RE:RE:RE:RE:I guess it will be fully subscribed

hey bago.....I have to absolutely disagree, dilution is when you take the same pie and split it into smaller pieces. In this case the pie is much larger and even with all the new shares, each and every "per share" metric improves, so that is not dilutive, but rather it's accretive. What happens tomorrow will probably have more to do with what happens to crude, but if crude is ok, then I think CJ may trade strong tomorrow. With this deal CJ's EV/CF is less than 5 which is ridiculous for a company that is growing production, paying a dividend etc. By way of comparison, BTE trades at roughly 7 times and everyone calls that stock dirt cheap.

Bullboard Posts

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