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.

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Cardinal Energy Ltd (Alberta)

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Comment by ufoolmeon Jul 21, 2020 11:09am

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Post# 31296057

RE:RE:RE:RE:RE:NEWS can someone explain in simple terms

Debentureholders would receive that number of Common Shares equal to their principal amount of 2020 Debentures divided by 95% of the Current Market Price (as defined in the Indenture) of the Common Shares. So at 50 cents, they would receive 1000/.475, or 2105 shares. 2105 shares at 50 cents is 1052.50. This would apply no matter what the price of the stock, so long as it is below the $10.50 conversion price in the prospectus.

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