Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF | T.CJ.WT | T.CJ.DB

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.

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Cardinal Energy Ltd (Alberta)

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Comment by PeterWrighton Feb 10, 2020 12:30pm

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Post# 30668383

RE:RE:RE:RE:RE:RE:RE:WTI Forecast

With all that said I think OPEC would like to see WTI oil get back to $55 to $60 range. Anything over $60 this year will just bring a bunch of shale back to market and effect their market share. I have a bid in at $2.28. I still think CJ can reduce net debt to 200 million by the end of the year.

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