RE:RE:Cardinal Energy Ltd. Announces Closing of AcquisitionTotally hear ya and agree on the managers compensation being an issue.
The reason I didn't do my normal write up on Q1 was I was so p*ssed at the amount they spent...my CF number was off due to how large it was...way too high of a charge for Q.
I sold my shares because of this.
But I got back into CJ for better or worse. sigh.
I have always made on CJ so hopeful greed doesnt hit me here but it was a nice little punch today I took.
I couldnt buy more today but I think people that got under 3 bucks today got a steal.
Even in a softer market for oil, CJ should be around 3.20. I suspect CJ will rebound to 3.10-3.25 fairly fast if things stregthen.
One thing management has done is well though is keeping production steady. Managed declines well considering the capital spent.
I noticed last Saturday CJ spud a well on their heavy oil property...Sparky A.
It is interesting as CJ didn't develop their heavy oil property using long horizontals as it is older but Venturion used horizontals. First time CJ is trying this here. If it hits it is a good thing.
The wells are cheap and they can come in strong for the first year...300 BO if hit well.
CJ is lucky as the wells are so cheap to drill. The FCF is the attractive thing about CJ.
Q2results and on should be lovely. We got venturion at a steal of a price...
rodster55 wrote: What is not to like with the new presentation ? Do you think these small minded corporte management type read these boards ? Thanks for including the great job your management team did in generating 1.5 BILLION DOLLARS IN TAX LOSS ! That was pennies on the dollar with the last two terrible terms of financing ! Won't be paying to much tax in the future and I guess that is a positive !
Now, going forward. Why no dividends till 2022. You got yours and shareholders got zipola. How about you guys get off your a$$ and make a business plan to reinstate the dividend and post it in the presentation. What am I paying you guys for anyways. Do you need some advise on how to run a dividend paying model company, No hedge present in 2022 so what are your plans on layering in some hedges and what percentage of production to steady future cash flow and secure a dividend going forward. Can't believe only 3% of shareholder voted against manangement compensation !
P.S. Start layering in some hedge starting in August will you and read the above for the 3rd quater financials.
Still long and strong waiting for 2 quarter financials.