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) > Is CJ buying shares?

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Comment by Quintessential1on Dec 20, 2022 10:14am

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Post# 35181944

RE:RE:RE:Is CJ buying shares?

Their last purchase that I see posted was in October at $6.93 for just over 24k shares.

If that was their target price then, it may be that again. They should have a good idea of excess FCF for Q4 and buying before the ex-div will save them 3 divi payments before the next ER.

They did say in their report that the cost of borrowing money was roughly the cost of the div. I wonder how that factors into their decisions.

GLTA

TheWokeLemming wrote:
Billybabin61 wrote: They can buy over 12 mil shares and I think that was approved in July. I don't believe they have bought anywhere near that amount, based on what I checked I think it was between 3 and 4 million to date. Great time for them to jump in for sure.

As of Sept 30 they had bought 3.7 million, as per their getting outdated presentation. Q4 financials aren't out until March 13, 2023, 4.5 months after Q3 was released.