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.

TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta)

Bullboard Posts

Comment by forecast123on Jul 31, 2019 11:21am

121 Views

Post# 29979560

RE:Today's 9% move up is the NCIB effect on CJ, Short Covering

CJ is the wrong stock to short bc of 10% NCIB plus bearing in mind the shorters will have to provide the 0.015$ dividend per month as well... I am doing some calculation now using the daily max NCIB limit, the 10% buyback can be completed within 80 trading days if using daily max NCIB each daily lot of purchase... This means after 4 months, buyback can be completed... I don't think CJ mgt will consider dividend increase not until the 10% buyback is completed which meant sometime in Q1 2020.

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