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 JohnBP1on Mar 09, 2020 8:53am

118 Views

Post# 30782413

RE:RE:Bid and ask at $1.18 down from $1.57 at 8.35am

Thanks BonJ, just giving a price update, I am too deep into this to sell now... however my fear has turned from the oil price to the risk of CJ crashing. They cant sustain $30 - $40 oil plus the divi will be cut next month in my opinion. Russia and OPEC are now at war, they wont back down for a while or one of them would lose face (and they are like that in the middle east). So as I said if this goes on for months CJ is in trouble hedges or no hedges.... $25 oil is a possibility in the next week.

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