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)

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Comment by largeinveston Sep 19, 2017 8:19am

195 Views

Post# 26712679

RE:RE:Taking a first look at CJ

Have you even read the latest presentation? The breakeven rate is now $46, each, $1 above that gives CJ $5 million in free cash flow. The 2018 strip price is $51, therefore if CJ hedged the whole thing now they would have $25 million in free cash flow after dividends and production maintenance costs. In the presentation he teases what should he do with the money? Increase production, pay off debt, increase the dividend or share buybacks? Here is the latest Latest CJ powerpoint presentation

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