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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

Comment by sclardaon Aug 24, 2022 10:02pm
229 Views
Post# 34918751

RE:RE:RE:Interesting comments

RE:RE:RE:Interesting commentsSirlostalot wrote

I may very well be wrong but after reading releases from CJ They have indicated that the 55 wti covers all operational costs including the 5 cent a month divy , I would think any difference between 55 and current wti is what they will have to pay increased capex, debt retirement and any increased shareholder returns above the base dividend. 

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Calculating it that way does not work well because in looking at their financial statements at $55 oil they pay a much lower royalty than they do at $90 plus oil. They also would likely cut capex to the bone at $55 oil. 

 In the first quarter when oil averaged $94  around where oil has been for the last while  CJ had Cashflow of aprox. $86 million or aprox. $344 million per year. That would equal aprox.  $172 million for the second half.  Capex including the increase for the second half will be aprox.  $70 million. The 5 cent monthly dividend will cost aprox. $48 million and debt repayment will be $62 million for a grand total of aprox.  $180 million in expenses against cashflow of aprox.  $172 million. There is no room for dividend increases and share buybacks  and they will have a hard time eliminating all debt by the end of the year at current oil prices. 

Sorry about repeating the same numbers and i am not talking about you but some posters here cant seem to add numbers very well and all they can keep repeating is i want my dividend increase whah, whah, whah you promised me and i want it right now. whah, whah, whah. 

Greedy Fu$$ckers. 

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