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 pppon Oct 26, 2018 5:10pm

212 Views

Post# 28880459

RE:RE:RE:RE:Has 33% free funds flow using 2019 $65 WTI strip pricing

Excellent points. These guys need the spreads to narrow in a big way to meet 19 guidance.

IMO, 25 dollars spreads going forward should be the norm. so lets say 40 us for WCS at 65 WTI
they get about 5 dollars more for their oil so that should put them around the 60 can mark for their heavy. Time will tell. But I bought a few today after sitting on the sidelines for a while. IMO these guys should move to costless collars and forget about WTI swaps. They have alot to learn and got burnt big time Hedging WTI and not hedgeing the spreads. Live and learn.

GLTA, its been a bit#h in the oil sector

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