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 largeinveston Dec 07, 2018 9:01am

90 Views

Post# 29081126

RE:RE:RE:Got some information from the boss

He had the presentation up on his website until yesterday!! that said "maintain dividend" as a primary objective. So its rather a surprise, but a temporary one until APril.

In any event he is obviously fixing up the balance sheet from Q4 damage and will hike again in April. Using his very own numbers from the 2018 budget at $55 WTI assuming no hedging losses he showed a $26 million surplus on the back of 21,000 boepd production average.

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