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 hipfneron Oct 03, 2018 5:30pm

87 Views

Post# 28740843

RE:RE:RE:World oil prices soaring

First of all, the oil that is in surplus in the west is heavy oil. The refineries in eastern Canada are not set up to process it and would require many millions to add extra processors.

2nd, transporting oil by pipe is expensive, compared to ship. The economics are pretty tenuous.

3rd, many communities expressed opposition to the proposal. This was certain to add huge costs and delays to an already tenuous business case.

And, b.t.w, the oil imported to eastern Canada by ship does not come from "communist" countries - it is mostly Saudi Arabia, officially a Kingdom. China doesn't export oil, nor does Korea. Russia doesn't pretend to be communist anymore.

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