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) > New Acquisition - (quick napkin numbers)

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Comment by Quintessential1on Oct 03, 2023 6:32pm

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Post# 35667958

RE:New Acquisition - (quick napkin numbers)

LOL @ they got GXE for $25MM (I know you were joking)

Love the napkin math thanks for doing it.

Here is some of mine. 900 Boe/d for $25MM GXE produces 5800 Boe/d (max)

5800 / 900 = 6.44 x 25 = $161 MM Leave GXE alone and pick up 6 or 7 more of these if possible.

GLTY and all

JayBanks wrote: Just some quick fun numbers that are loosely accurate...

25 million cost on 155.737 million shares = it cost each share 16 cents for this purchase

900 barrels per day achieving the net back from Q2 of $32.51 = $29,259/day x 90 days = $2,633,310 per quarter of FCF divided by the 155.737 million shares = 1.7 cents per share per quarter (this was of course at lower priced oil so the next backs are somewhat higher so that might be above 2 cents per quarter on Q3/current numbers)

25 million divided by the 2.633 million of FCF of Q2 = 9.5 quarters before this pays itself back (again Q2 being lower oil prices, Q3/current might make the math work out closer to 8 quarters)

These are just fun to look at for mild perspective...