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)

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Post by Coolsonon Nov 08, 2022 5:33pm

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Post# 35083609

They will not pay debt down in 2022

It looks like they want to avoid paing down the debt to 50m since they would have to adjust returns to shareholders. Everythng else looks good.

Production increased +
Not paying down debt as they say -
Cap expenditure (should be greater) -
FCF overstated (by capex) -
Dividend increased +
Bought 3.7m shares (7.05) +

56.3M fcf -48M (div share buybacks)= 8.3M

Where is this money??? Anybody?

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