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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

Comment by JayBankson Oct 03, 2023 6:50pm
300 Views
Post# 35667989

RE:RE:New Acquisition - (quick napkin numbers)

RE:RE:New Acquisition - (quick napkin numbers)Hehe, that was a shot to throw out there for a few reactions...

I agree that these are optimal, but they have to be on the market, we seem to grab 2-3 of these little things every year, and I like how easy it was to finance...

Most of these transactions are like many sports trades, they are investigated well in advance they aren't just thought up last week. This one might have been brewing for many months maybe a year or so. When a company like GXE puts everyone on notice, it usually means they are going to work with other companies to provide more clear information easier for a valuation and discuss if they feel it's accurate/palatable for a much faster transaction path if they get appropriate interest.

That $161 million seems to value GXE at .54 cents according to numbers provided by a poster over there lol That board might be fun to watch the next few hours/couple days...
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