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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

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.


TSX:CJ - Post by User

Post by largeinveston Nov 02, 2018 3:31pm
187 Views
Post# 28916510

I think it was the lack of 2019 guidance

I think it was the lack of 2019 guidance and the lack of a share buyback...which gave the shorts an opportunity to pound CJ up the bum today.   Rather then have the free cash flow targets posted in a presentation on the website, why not announce your capital plans to the market so they can see the dividend is safe and sustainable and scare the shorts into buying!   WHo cares if you have to revise it 6 months later, just put out a plan already using strip pricing!   He played the Q3 earnings all wrong.  Even BTE and GXO came out with 2019 guidance.  They said the differential is trading at $30 average for 2019 and they used $65 strip...Surely with that and our lower op costs we would have at least $30 million in free cash flow.  (Down from the original estimate of $50 million FCF thanks to the higher differential)  its still massive.  How about talking about the refineries coming online shortly, or the line 3 pipeline end of 2019 or rail capacity ramping up.  Something...anything!!  I feel like the oil patch in general has taken such a beating that there is no "fight left" its ....just oh yeah it is what it is ..whatever i'm taking a nap now.  go way shareholders...yawwwwwwwwn.    
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