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 Kontraryon Mar 10, 2018 3:56pm

143 Views

Post# 27697549

RE:RE:RE:This stock was trading at $7 when oil was $26....

One correction to my previous post. The $293M in debt number that I used included the principal amount of the convertible debentures. Taking those out of the calculation (for apples to apples comparison purposes), net debt at that point was $243M, which was then reduced to around $220M in January and should now be dropping to around $200M based on the most recent royalty sale to take us to that 1.6X D/CF multiple.

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