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Bullboard - Stock Discussion Forum 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... see more

TSX:CJ - Post Discussion

Cardinal Energy Ltd (Alberta) > Smart Management
View:
Post by traderlong2 on Feb 05, 2021 8:02am

Smart Management

I said a year ago I was in this company because I thought the management was sharp
great move on the Debenture
about to remove another 28 million in long term debt add the 50 million off the CL this year
then I think we will see the divy returned to shareholders
The 26 percent insiders also want that divy
we could break 1.50 today imo
we will see
now going to save 4.4 mil interest on the deb
and oil at 56 is an extra 13 mil in cash from the latest presentation
well done
glta
Comment by Oil2018 on Feb 05, 2021 8:45am
Thanks for the information. How do we pick the option of taking shares? I bought this at 6. Need all the shares I can get to average down
Comment by traderlong2 on Feb 05, 2021 8:49am
You Just tell your broker you want to convert before march 9th they will trade to shares in your account I say if the sp is above 1.40 100 percent convert you would be crazy not to take the premium Great buy at 60 congrats
Comment by Primetime1 on Feb 05, 2021 12:53pm
I am a bit surprised by this move, and not sure I am entirely clear on the rationale for it.  1. From a debt perspective, aren’t they just issuing other debt (new notes) to pay for the redemption of the debentures? At similar or higher interest rates?  2. From an equity perspective, debentureholders can still convert to shares (so they might prevent some future dilution by redeeming the ...more  
Comment by traderlong2 on Feb 05, 2021 1:19pm
Imho When the share price broke 1.25 they called it they will put up the cash if the debenture holders wont convert 8% is a good return on cash for the insiders they also eliminate any future conversion that might hold the SP in check Feels a little greedy to push that quick the deb holders who in fairness argeed to extend while the other cowboys did not and they got 12% return ( nice thanks ...more  
Comment by Primetime1 on Feb 05, 2021 1:28pm
OK so assuming a large number of people do convert, then it will reduce the debt a lot earlier vs. the company waiting 2 years. I think that makes sense. Thanks 
Comment by 2020oilgamble on Feb 05, 2021 1:30pm
This post has been removed in accordance with Community Policy
Comment by traderlong2 on Feb 05, 2021 1:38pm
Agree! all to make the company cleaner for a sale ? my guess is we will also get some good news in the next 3 or 4 weeks to make sure I think they would be smart enough to ensure the removal of the debt or thy would not of pulled the trigger so fast glta
Comment by Backinblack1000 on Feb 05, 2021 2:11pm
This post has been removed in accordance with Community Policy
Comment by 2020oilgamble on Feb 05, 2021 2:15pm
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Comment by sclarda on Feb 05, 2021 4:16pm
Primetime1 wrote I am a bit surprised by this move, and not sure I am entirely clear on the rationale for it.  1. From a debt perspective, aren’t they just issuing other debt (new notes) to pay for the redemption of the debentures? At similar or higher interest rates?  2. From an equity perspective, debentureholders can still convert to shares (so they might prevent some future ...more  
Comment by Backinblack1000 on Feb 05, 2021 4:36pm
This post has been removed in accordance with Community Policy
Comment by giovinco on Feb 05, 2021 7:26pm
Rational is to get rid of the 1.25 option to convert snce price crossed the mark. Not sure if it was good timing since stock price was taking off. It is same as equity raising at 1.25. All will convert as long as market price is above 1.25 and some will sell right away causing share price to be stuck for a short term. i.e. short the stock now and then convert at 1.25 or sell what they have already ...more  
Comment by sclarda on Feb 05, 2021 9:41pm
giovinco Rational is to get rid of the 1.25 option to convert snce price crossed the mark. Not sure if it was good timing since stock price was taking off. It is same as equity raising at 1.25. All will convert as long as market price is above 1.25 and some will sell right away causing share price to be stuck for a short term. i.e. short the stock now and then convert at 1.25 or sell what they ...more  
Comment by giovinco on Feb 06, 2021 3:42am
Exactly same as equity raise if you use up all the cash to repay debt. Anyway, 100% will convert if share price stays above 1.25. You either get $1,000 or 800 shares to sell in the market. Selling 800 shares at 1.26 will give you 1,008. Who would not convert? Short sellers could try to dip it below 1.25 in order to make company hold more debt, and those who are long will buy below 1.25 with ...more  
Comment by jwrent on Feb 05, 2021 11:21am
I am not so smart, still averaging down...big time. Even Murray can not drag me out from the depths...we will see, hangin in there.
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