RE:RE:RE:RE:RE:RE:RE:CJ mention on StockwatchHeyMoemoney....I may not be the "great cheadle"...but I think you mentioned something about 2.99 for Cj and I said 3.08...hmmm...CJ's low was what today...
3.08 - 3.20 But let's not turn the CJ board into the Baytex board. Good vibes we all should be good spirits.
We could trade at a higher multiple due to the fact the banks are keeping companies from doing mergers, depressing the property sale market right now, and any company that has a "backer" that can help finance property buys...could slowly trade at a higher premium.
Murrary Edwards involvment here is a game changer.
If any properties are going to be firesold during this summer...we don't need to suck a banker's c*ck to get out debt factuly increased.
Murray can snap his fingers and fund any notes CJ needs if the deal is good enough.
I suspect we are hunting for one more deal in the short term...in the 20m-80m range if the terms are right.
And we should be expanding any time we can buy stuff that will FCF in less then 20 months and be paid off in full.
This is how CJ will become a 5 plus stock. Divy can be saved for 2022.
Need to continue to get bigger while our competitors dont have the financing options we have...Uncle Murray...
Moemoney42 wrote: Bwaaahaaaahaaaa... you can't really "walk it down" with 100 shares... ROTFLMAO.. Backinblack1000 wrote: lol...you were probably watching me fiddling around...lol....got 3.12, but my 3.10, did not fill...
lol....oh well....so much for walking it down...lol.....glta....
kavern23 wrote: I was watching closely at 3.10...I was willing to pay 3.10 or 3,11 but then it moved to 3.15 before the EIA report.
EIA Report is very buliish...one line...USA PRODUCTION IS DOWN TO 10.8m barrels for week from 11, Backinblack1000 wrote: Timebuilder....think Kavern;s numbers are low....so i will start adding anytime now.....imo...
Thanks for the post
kavern23 wrote: I agree, I don't think CJ will fall under 3 dollars.
I think CJ has pretty good instutional support on board with CJ plans.
But anytime I can buy this under 3.05 and be able to sell it over 3.30 in a fast amount of time...I have to sell.
It like's milking a cow...you don't wait...you want to squeeze as much milk into the bucket as possible whenever the t*t is full....
Backinblack1000 wrote: Light Crude Oil (CL1:COM)
69.22 0.39 (0.57%)
All that work for nothing.......maybe....or not....
listing your assumptions
are you missing anything....
is your data .....out dated....maybe...
i would not underestimate the star power...and dollars of Nutall.....imo....
kavern23 wrote: Canadian energy companies continued their shopping spree. Scott Ratushny's Cardinal Energy Ltd. (CJ), down five cents to $3.17 on 2.36 million shares, is buying Kevin Wesa's private Venturion Oil for $47.5-million in cash and shares. The deal may mark a return to Cardinal's acquisitive habits of yore. From 2013 to 2017, Cardinal spent over $1.1-billion scooping assets in the Bantry, Mitsue and Wainwright areas of Alberta. Together these assets were producing around 18,000 barrels a day. Cardinal pushed this figure as high as 21,000 barrels a day through workovers and drilling, but acquisitions were undoubtedly its preferred method of expansion. Once the deals stopped in 2018 -- and especially once the COVID-19 downturn hit in 2020 -- production drifted down to around 17,500 barrels a day, only recently rallying back past 18,000.
Venturion will immediately add another 2,400 barrels a day, right in one of Cardinal's existing core regions, Wainwright. As it happens, Venturion has taken a similar approach to Cardinal over the years. It relied heavily on acquisitions -- sometimes not drilling a single well in an entire year -- to take its production up to around 4,900 barrels a day in 2016 from barely 100 barrels a day at its inception in 2012. The founder of the company was the above-mentioned Mr. Wesa, a reservoir engineer who previously co-founded Venturion Natural Resources and then sold it to Barrick Energy in 2011. Barrick was later sold to the above-mentioned Canadian Natural Resources in 2013. Incidentally, Canadian Natural's chairman then and now is the billionaire Murray Edwards, who last year became a sizable shareholder of Cardinal, linking all three companies.
Although Venturion's production has been cut in half since its peak, Cardinal sees plenty of remaining potential, as well as cost-saving opportunities from sharing infrastructure. Cardinal will pay $27.9-million cash and issue 6.3 million shares valued at $3.11 to acquire Venturion. It will need to tap creditors to be able to afford the cash portion. Although Cardinal raised over $20-million in December -- this being the financing through which Mr. Edwards became a sizable investor -- it used all of that and then some to redeem debentures in mid-March, leaving it with a cash balance of zero and a working capital deficit of $32.6-million as of March 31. Cardinal will draw down its credit facility and complete an insider note financing of $12.5-million to cover the cost of Venturion.