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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 VeritasVernon Aug 27, 2024 4:10pm
211 Views
Post# 36198306

market movement

market movementOil is down about 2.5% today on essentially little negative news while all the middle east issues are still full-on and Libya's is shutting down production. So why the large decline besides Goldman putting out a forecast intented to profit on the decline. I suspect they reason is two fold. Firstly the funds are making money today on the downside while keeping oil in the trading range of $75-80 and secondly they are positioning themselves for the run-up tomorrow if API oil inventory is bullish. We will find out later today wha API reports.     
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