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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 Coolsonon Aug 08, 2022 9:17am
345 Views
Post# 34878282

Debt target

Debt targetDebt of 50 m target should be achived around now. 62m / 180days is 344.4k daily. Assuming they want to pay it fown by the year end. 39 days x 344.4 is 13.4m or 48.6m left as of today. So based on the recent price drop and other developments we can assume that they do not want to play with div increaee right now and focus on share buy back. It is smart since div increase will make it more difficult or less beneficial for shares buyback. They will announce debt target as late as possible in meanwhile buying back as much as possible....
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