Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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

Post by TheWokeLemmingon May 08, 2022 1:53pm
310 Views
Post# 34665481

A reminder of what was stated in Q4 report

A reminder of what was stated in Q4 report

"As we move through these tumultuous times, we are cognizant of our goals which are to reduce our corporate risk and return capital to shareholders. At the beginning of 2022, we outlined a definitive plan to enhance the long-term viability of the Company and to return capital to shareholders. The first phase of this plan is to begin a monthly sustainable dividend once our net bank debt level is below $100 million. At current prices and forecasted spending, we expect our net bank debt to be approximately $140 million at the end of the first quarter of 2022. If commodity prices remain strong, we expect to reach our phase one net debt target in the second quarter of 2022.

We expect to be able to announce the timing and amount of our dividend reinstatement with our first quarter results on May 12, 2022."

<< Previous
Bullboard Posts
Next >>

USER FEEDBACK SURVEY ×

Be the voice that helps shape the content on site!

At Stockhouse, we’re committed to delivering content that matters to you. Your insights are key in shaping our strategy. Take a few minutes to share your feedback and help influence what you see on our site!

The Market Online in partnership with Stockhouse