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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

Post by 7Twiggyon Jun 15, 2022 12:59pm
286 Views
Post# 34758519

What is not to like

What is not to likeThe Company continues to outperform our budget forecast for production, revenue and debt repayment. We expect to exceed our production forecast for the year with excellent drill results from our Clearwater and Ellerslie drill programs. Increased forecasted production, continued strong commodity prices and the proceeds from the warrant exercises are enabling Cardinal to significantly reduce its net debt levels ahead of schedule. The Company will release our second quarter 2022 results on July 28, 2022 where we will provide an update of our corporate debt reduction strategy and plans for future shareholder returns.

What is not to like.  More than doubled my position in the last couple of days.  Sold all of another play where insiders were playing games. Looks like just the opposite her
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