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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 Quintessential1on Oct 14, 2023 10:32am
254 Views
Post# 35683600

RE:RE:RE:RE:RE:RE:RE:RE:Should CJ Be Interested In GXE?

RE:RE:RE:RE:RE:RE:RE:RE:Should CJ Be Interested In GXE?Why wait 20 days when you can pay BOE to pump it in half the time.

https://boereport.com/2023/10/11/gear-energy-post-announcement-asset-review-boe-intel/

In light of the recent tuck-in acquisition, should GXE still be on CJ's shopping list if it ever was at all?

I would say CJ is in a better position to negotiate. 

It is always better to make a deal when you do not necessarily need to. 

Of course the landscape has changed for GXE too given the ME turmoil and WTI price strength.

GLTA 


Quintessential1 wrote: GXE was trading at 80 cents a share and moving lower before they announced they were for sale.

This could turn out a lot like LB with no bidders or buyers and send the stock down further.

That might be a better time to try and make a deal.

In the meantime they should be putting out a monthly report in 20 days showing how they did in September.  If it was better and I was GXE I would do my level best to get that report out early.

We'll see.

GLTY and all.

tylerreddick wrote: Bidding war for GXE?

Hahahahahahahahaha




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