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) > Q1reporting

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Comment by vwbusmanon May 10, 2023 9:32am

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Post# 35440391

RE:RE:RE:RE:Q1reporting

Uhhh - simply pointing out that average WTI price in the first quarter was not great (below the budget figure from Cardinal) therefore - don't expect anything from the Q1 report other than dividend maintained, zero share buybacks and if we are lucky, a small amount of debt paid back. Don't forget - they did not pay any debt down at all from Q3 to Q4 2022

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