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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 JayBankson Jun 02, 2021 1:52am
284 Views
Post# 33309039

RE:Now we know why, the acquisition of Venturion

RE:Now we know why, the acquisition of Venturion

I like getting bigger and more.

I dunno if the price is good or not, but no mention of bringing back the dividend, and likely pushes that hope back further as we pay for this. I would say most of us would like to hear of a plan of where and when this may start again. It's most likely if they make an announcement concerning that it will be on a quarterly.

The 10% note thing bothers me as they say insiders are all going to fund that and along with the interest gain, they likely get reduced priced shares when they redeem depending on where the share price goes. I hold anouther stock that currently is completing a rights offering that was avalible to all current shareholders, I would prefer that. That said the notes offering is likely quicker as it's likely already agreed upon and would be closed very quick where as a rights offering can take 60 or so days to complete and they want to complete this transaction within 45 days.

The whole thing dilutes current retail investors (us), but likely makes us strongerish I guess.

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