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.

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Cardinal Energy Ltd (Alberta)

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Comment by AvInvestoron Dec 12, 2017 12:00pm

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Post# 27138584

RE:Cardinal Announces Its 2018 Capital Budget- Monthly Dividend

So they they expect royalty sale in Q1? I hope so...their plan to use free cash flow to make more acquisitions is concerning. I want the stock to grow, I don't want more exposure to oil.

"Cardinal expects to finalize additional royalty and fee title asset sales in Q1 2018. All proceeds from these sales will be used to reduce our net bank debt from the 2018 budgeted ratio of 1.8x net bank debt to annualized adjusted funds flow to our goal of 1x net bank debt to annualized adjusted funds flow."

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