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) > 2023 Budget - pretty simple.

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Post by JosephM1on Nov 11, 2022 9:38am

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Post# 35091079

2023 Budget - pretty simple.

At 80 WTI

Adjusted free funds flow 270 million

Cap budget and ARO 120 million

Dividend at .72 per year 113 million

Excess free Funds 37 million.

Sensitivity: 1 WTI change equal 7 million free funds flow.

If 90 WTI, another 70 million in adjusted free funds.

Like management prudents on the budget.

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