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 Aug 11, 2020 1:24pm

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Post# 31393603

RE:RE:Reinstate Dividend?

EstevanOutsider wrote: maybe when they could hedge out the next 24-months at a profitable price.

give oil a few more months to break $50-55.

let them buy back the debentures first before reinstating the divy.

i think into 2021 the divdidend will be resumed and oil will be $60-75

Yes, they still have to buy back about $16 million in unconverted debentures by year end. Better to use cash to do this than having to issue new shares

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