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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF | T.CJ.WT | T.CJ.DB

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) > Has Cj done it?
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Comment by divime1on Feb 14, 2023 8:08pm
137 Views
Post# 35286428

RE:RE:Has Cj done it?

RE:RE:Has Cj done it?They stopped buying back shares . The last they bought back  was 24,156  on Nov 1 so they are concentrating on paying down debt and dividends ..

They paid down $ 25 million of the debt in the 3 rd quarter to stand at $ 42 million on Sept 30 . I perdict they will be debt free around May of this year unless they front load the CapEx .

The lower it gets the much less interest they are paying so that will also help to decrease it faster .
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