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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 Sep 14, 2019 4:19pm
86 Views
Post# 30127352

RE:RE:RE:RE:RE:RE:Saudi Arabia shuts down 50% its oil production, drone attack

RE:RE:RE:RE:RE:RE:Saudi Arabia shuts down 50% its oil production, drone attack
You are likely correct Kavern that overall this won't hurt Saudi Arabia as they will ship reserves and make it up that way. However, the IPO is toast for now IMO. Who would want to buy this when it gets bombed so easily?

Regarding conspiracy theory, it sure does look bad. They were shooting down easily the missiles that Yemen was firing at them with Patriots but, they seem incapable against these drones who are certainly much slower and radio controlled (normally advanced armies can take control or jam them). Seems bizarre but, it is also the 2nd time that drones attack their facilities. First time, it was some pipeline pump station if I recall properly.

Just now, the U.S. is blaming Iran for the attack. So the big deal here is a decline in inventories (depending how long this is down) and more importantly, continued constrained supply out of Iran with sanctions.

So yeah some conspiracy is possible.
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