Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

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.

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Cardinal Energy Ltd (Alberta) > Should be paying a 7 cent monthly dividend in July.

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Comment by Rational43on Jun 08, 2022 10:56am

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Post# 34740177

RE:RE:Should be paying a 7 cent monthly dividend in July.

At $110 with their frontloaded capex they are generating ~ $31M in FCF per month for the rest of the year.

That would put them ending Q2 at ~ $60M debt.

If they bump dividend to 8 cents a share starting in July (payment in August), they should still be at zero debt by end of Q3.

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