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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

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

Post by randomexploreon May 31, 2023 2:49pm
248 Views
Post# 35473209

Broadviewenergy statement

Broadviewenergy statementhttps://www.broadviewenergy.ca/_files/ugd/2457c0_d5cbb843fd724d63a1ea75e5bb5d4488.pdf

Given no news from Cardinal - My guess is as follows:

Broadview jumped the gun on their web site.

There likley is an non binding letter of intent. (thus no need to press release) They would likely have to get three years audited financial statements on this asset to issue shares for it. This takes time.
They would need TSX approval. This requires audited statements see above.
They would need board of director approval and formal P&S agreement.
Execpt something between end of June and end of July if due dillegence passes.
If due dillegence fails, then Cardinal would never have to press release it.

My thoughts 
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