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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 uogradon Nov 09, 2022 10:46am
289 Views
Post# 35085258

sometimes you get a little too ahead of your skis

sometimes you get a little too ahead of your skisquarter was excellent and company is doing well, the issue is in a press release a few months back they laid out initatives on debt going to zero and more dividends, buybacks etc and with the drop in oil prices and increase in intererst rates effecting debt repayment they have not achieved their goals so today they are paying the price.

long run everything fine but it will be quite awhile before their is another dividend increase or much of a buyback so easy money is gone and so are most of those traders.
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