Obsidian OBE vs Cardinal CJWow. Cardinal Energy had stellar results and its market cap is 53% higher than OBE's ($1.2B cdn vs $785m cdn. Some quick Cardinal positives:
1) Funds flow ratio 0.4 (obe still above 1)
2) Monthly dividend in q2 (more color from Loukas with refinancing news)
3) In the Clearwater (so is obe)
4) Unhedged (obe is undhedged for the most part esp 2nd half 2022)
5) Netbacks $50.47 (higher than obe at $42.45. both are above avg in industry)
6) $1.5B in tax pools (similar to obe)
So we have some catching up to do regarding debt. However, we have two major advantages over Cardinal. First, our share count is much lower, only 82m compared to cj's 150m. That is 83% more. Also, our production at 33k last quarter was 53% higher than cj's at 21.5k. Loukas will get us there!