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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 Sep 18, 2024 11:39pm
94 Views
Post# 36230343

RE:RE:RE:Dividend

RE:RE:RE:Dividend

Luckyguy777 wrote: Are they on budget this year (or close)?  If so, then don't worry about the dividend.  I am pretty confident they wouldnt enter the year with a plan they would need to cut the dividend if they meet budget.  

 

They added some unexpected lands and brought forward a few things I think, but we were also +80 early in the year... so I think there was higher expenses but also higher than forecasted income too.

We are closer to a dividend raise, than a cut, once the capex comes off the current extra project and before the next one starts, we will likely be pounding the debt till it bleeds at which point they likely raise.

But before we get too far ahead of ourselves, in a couple months we should get 2025 guidance, I believe it's late Nov - early Dec we get those plans from the horses mouth... along with an updated lower dividend limit number...

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