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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 Cardboard1on Dec 12, 2018 8:51am
173 Views
Post# 29102004

Real mistake they made

Real mistake they made
Not selling their 2 remaining large royalties.

How useful that cash or less debt would be right now? Could buy millions of shares for peanuts. Could even buyback some of the debentures trading at a discount.

This is not even 20/20, I mentioned it at the time. The shares were already trading for a low multiple at $4 and even at $5. While these royalties were selling for 10-20 times EBITDA. There was zero need to predict the oil price. It was all easy math in front of them.

Would have been very accretive and vs current price is extremely accretive strong enough words?

Instead they kept it all and now we are paying the price for it with a lower dividend and nothing to play offense. Sad!

Cardboard
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