RE:gonna be fun this week...lolIt will be an interesting week. I am interested to see how this Eric Nuttall thing will work out..like it obviously looks like Gear Energy but does Eric have such a strong brand he can pop Gear share price..that is if he is buying..we don't know that for sure.
At a 120M market cap...f*ck that is awful small if Eric does.
Eric seems to always be worried about an exit strategy and needing liquidity.
Cardinal Energy will also be debt free next year in any scenario that Gear will be.
But think of it this way, excluding reclaimation:
Gear needs 19M to keep production stabilzied at 5400-5500
Cj only needs 27M for close to 18000.
Easy to see CJ is more able to pay a dividend.
I also think CJ will produce slightly higher then forecasted in the presentation due to oil prices being high enough to make turning on some of the old wells that need to reacitviated wothwhile.
I ran Jan and Feb Alberta production numbers for CJ on the weekend. It looks really f*ckin good. It looks like they declined only 200 barrels between Jan and Feb...16 wells they turned on is really counter the declines on the 2019 and early 2020 wells.
Cardinals top ten oil wells in Jan produced about 1600 a daybarels combined while in Feb they produced 1400 barrels a day. This is only thing really declining.
The rest of the wells decline was offset by the well activations iN February.
Looking very good. We are for sure matching what the investor presentation says which is the point of me spending that time. I have abit of cash in CJ again.
Mitsue is sure a strong field. Some of those wells have sat at 20 barrels for last 20 years and don't really move. I don't know the production rates on all 16 reactivated wells but it looks like most were in Mitsue. I seen on come on at 54 barrels after being shut in for month....others 18-20.
Backinblack1000 wrote: