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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 06, 2021 5:23am
191 Views
Post# 33337019

RE:RE:RE:RE:CJ and Nuttal

RE:RE:RE:RE:CJ and NuttalAgreed, I don't go on CPG boards myself unless I'm scanning the news links, too toxic. Most high volume, high interest stock boards are similar.

I too hold CPG but I caught the falling knife from several years ago and never sold out, same with BNE, and the former TBE. My price points on BNE and CPG are very high and currently I've lost 75% of what I paid for them, I was very new to investing when I got into them and screwed up in many ways. I also should have been averaging down and even more so recently, more mistakes.

I have a CJ position that is a couple years old and I'm in at $4.61 so I'm underwater on this one too but including dividends paid only by 26%, especially since the recent move. Again, should have averaged down.

I've always liked CPG and CJ so I've been content to hold, and my flawed reasoning for not jumping out was that I never thought oil would fall as far as it did. For CPG and BNE I got in when Oil fell from its peaks to the 65-70 range figuring 60 would be the lowest it would go in the oil crash and at 60 I jumped into TBE. Boy was I wrong on those expectations. I think oil was about 50ish when I jumped in on CJ for the dividend and I did well for a few months before things started going back south. The only ok thing is I'm in the accumulation period of my portfolio and although my purchases of each were between $4-6K each (9k on TBE), that's rather low in terms of my portfolio allocations and they weren't 'full' positions alone.

CPG and BNE the plan is just to hold on as they aren't really worth my time moving right now as my values on them is rather low. CJ will be fine and I expect I'll eventually have the head above water again. Biggest thing I've learned in my oil & gas adventure is to place a 'stop-loss' for when things get dark, especially in the commodity space so that if your call goes bad, it doesn't hurt too much and you can play again later.

Investing is difficult enough for us retailers, it bothers me when people flood a board with nonsense or fluff when we should be working together to help people to make informed investments and pass information and analysis the media doesn't provide, while also answering questions of those who seek clarity.

I will say Kavern does a good job on solid information & interpretation for us with CJ, and you can find great information from others on other boards from time to time.
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