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) > Debt Free by now, what will they do with the extra cash!

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Comment by Quintessential1on Nov 06, 2022 6:58am

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Post# 35076742

RE:Debt Free by now, what will they do with the extra cash!

I would like to see them buying back as much as the NCIB and share price will let them during 2023 while they are still getting what basically amounts to a 2% discount now.

What should the buyback floor be set at?

Given that I would like to see the share price blow by $10 and never go under it again I think they should be maxing out buybacks at $12 per share and under. If the share price is $15 and they have FCF left over then special divy that out.

GLTA longs