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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

Comment by energeeon Mar 27, 2021 8:23pm
181 Views
Post# 32893899

RE:energee must be new to the market

RE:energee must be new to the market
Nice try devein1. Not new to the market nor to the motives of Fund Managers. Just making the point that this Manager who was in the dumper for the last 18 mos got lucky with an oil price rise and now is advertising his holdings.  You can read him like a comic book.

At 31:40 in last Friday's BNN show, he dissed HWX (which I bought a year ago when it was  cashed up as Corridor) and without naming it, he telegraphed that TVE was going to be his next Top Pick 30 minutes later for the Clearwater play.  Retail, which I assume you are, then jumped in to TVE within fifteen minutes of the Top Pick rec. I dont assume many institutions buy when Mr. Nuttall tells his story.

If you look at the age of the CJ assets (Mitsue, House Mtn., Viking Kinsella and Midale Unit), their $17/boe OPEX and the reality that without the recent debt deal and the $23M they got from CDN taxpayers to abandon old wells this Co would be challenged. I don't own it and good luck to you if you do. 
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