RE:RE:WCS remains over $65
EstevanOutsider wrote: CJ just needs a little more public exposure again. With WCS gap narrowing on their heavy and CJ rceiving near full WTI on their new Midale property, we are in a great position to redeem our shareprice back to where we were in 2017 and hopefully 2016 and before.
Heads are just turning now and it is clear, there has been a reversal towards sentiment in Canadian energy; the only thing hurting companies like Cardinal is lack of exposure. That should change soon as the bull run continues. Probably multi-year, albeit, with a few setbacks most certainly!
Staying long with a price target of about $12 by the end of 2019
Hopefully oil prices stay high long enough so CJ can roll out of that one bad hedge they have until the end of the year. If so, we are indeed looking at major gains in the share price.
But in the meantime, we are still making good free cash flow, and now have the option of not selling the rest of the royalty interests that were planned. The extra cash flow from keeping those assets will just mean paying down debt even faster. If CJ does sell more royalties, the debt could be brought down to to a very low level, and the market simply couldn't ignore that.
$12 in 18 months is possible.