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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.


TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > Is CJ buying shares?
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Comment by Khersonon Dec 20, 2022 11:20am
154 Views
Post# 35182184

RE:RE:RE:RE:RE:Is CJ buying shares?

RE:RE:RE:RE:RE:Is CJ buying shares?
vwbusman wrote: From the Investor Presentation, they indicated the priorities are as follows:

Priorities for Incremental Adjusted Funds Flow

1. Eliminate bank debt
2. Increase shareholder returns i. Sustainable dividend increases ii. Share buybacks iii. Variable dividends
3. Capital Expenditures i. Enhance long term inventory
4. Acquisitions i. Improve long term sustainability

I expect as they have not accomplished priority #1, they are not purchasing any shares.  At current oil price - it could take 6 months to eliminate the debt (I think it is around 42 to 50 million ballpark) 


But Cardinal had been purchasing shares! Has their priorities changed?
Kherson
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