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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 Oct 03, 2019 11:00am
264 Views
Post# 30191841

2nd time this year

2nd time this year
That an insider buys the debentures:

https://www.canadianinsider.com/node/7?menu_tickersearch=CJ+%7C+Cardinal+Energy

First time was Ratushny (CEO), now Brussa (director).

I am not sure what they are seeing there as the gap to par is pretty small and the yield is 5.5% (at par). So a rough 6.5% yield to maturity. Ratushny got better as the discount to par was greater then.

Not a bad place to park cash I guess especially if you are on the inside and now that these will be called however, why not the stock right now at a yield of 7.8% and vast discount on absolute and relative basis? They already own too much?
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