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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

Comment by Cardboard1on Feb 27, 2019 3:40pm
77 Views
Post# 29419640

RE:RE:RE:Overbought Technical indicators for CJ affect investors

RE:RE:RE:Overbought Technical indicators for CJ affect investors
Kavern23, I think that you are really overestimating U.S. oil production abilities. These shale plays are not unlimited resources and will deplete like everything else. Not ONE new field has been found in recent years. Once the Permian peaks, it is game over. And there won't be a new game changing technology to suddenly extract more from existing fields such as horizontal drilling/fracking.

You mentioned that the EIA bumped Lower 48 States production by 100,000 bls/d last week and again this week. Well... they were simply playing catch-up with the weekly estimates since they said previously that January was averaging 12 million bls/d and they had kept production until 2 weeks ago at 11.9 million. Essentially, production is as flat as it gets since December and productivity per well seems flat at best to heading down per their own reports.

Centennial which is supposed to be the cream of the crop in the Permian led by genius Papa got its head hand over to him yesterday. Stock plunged 23% yesterday to a new 52 week low and is showing no sign of a bounce today with WTI up over 2%. They too are tapping the brakes and will use fewer rigs and try to live within cash flow.

PXD is trading like crapp today. Message seems clear from investors: stop producing like a bunch of f.. idiots! This will have a major impact on U.S. production.
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