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) > CJ

<< Previous

Bullboard Posts

Next >>

Comment by sclardaon Mar 14, 2023 12:51am

188 Views

Post# 35336679

RE:RE:CJ

Exactly. At current oil prices they do not have any extra Cashflow to pay down debt. If we have a bump in oil prices all extra Cashflow should go to pay off debt and build a fund to pay for future asset purchases as CJ is using up 22 000 barrels of oil per day which eventually have to be replaced.

A 10.5% dividend is aready more than enough and i would argue is already to high at current oil prices.

<< Previous

Bullboard Posts

Next >>

What will the U.S. election results mean for Canada?