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) > Blood bath

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Comment by kavern23on Oct 04, 2023 10:21pm

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Post# 35670248

RE:RE:RE:RE:Blood bath

I think the kurds are caught up in a political situation.

Most of the kurd heavy oil goes to turkey and then to Europe to be refined.
Kurd oil is heavy side and great for diesel.
Because Europe is low on this type of oil with pipeline shut, Europe is using oil that makes more gasoline instead of diesel. Europe is getting lots of light oil.

Whenever it becomes a done deal, it would drive prices down an easy 5 dollars maybe more.

Maybe they are close to a deal that traders and hedge funds are repositioning ahead of time.

The longer the pipeline is shut, the more companies operating are owed money to pay workers and contractors.

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Cannara reports record growth and profitability in Q4 2023