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)

Bullboard Posts

Post by largeinveston Nov 02, 2018 7:11pm

190 Views

Post# 28917701

2019 Budget with base case, bull case and bear case

We can see that NAV is $9.61 per share, currently trading at a 63% discount to that. I knocked $2 off operating costs for next year as they do their new hydro plan to get off the grid and save loot. For maintenance capital I added in the $5 million per year they are required to spend for ARO. Overall surplus at $50 cnd per bbl looks to be about $25 million for next year.

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