Cardinal Energy Ltd (Alberta) T.CJ

Now we know why, the acquisition of Venturion

[Canadaforoil]

Not sure how this will play out but a mix of shares and cash with issuance of new debt at 10%, which is also convertible.  I am guessing somebody didn't like this deal and bailed out of their 2M shares.   Any thoughts on good or bad deal?

[kavern23]

Looks to be a really fantastic deal for Cardinal. They basically bought a Hemisphere Energy for under 50 million and look at Hemisphere market cap and enterprise value. The cash component likely allowed CJ to get this so cheap.  Under 70M is a steal. It goes to show how little buyers exist even for good small fields.  The Killam field Venturion has is only a township away from CJ land

[Rational43]

Agree this is a great acquisition, and shows how much opportunity there is for superior management in the WCSB.   This deal is way better than Tamarack's activity.  A lot of upside to acreage that Venturion didn't have the money to develop.   Gear is still cheap, but Cardinal has become my favorite name in the energy sector, and this deal re-inforces it. 

[JayBanks]

I like getting bigger and more. I dunno if the price is good or not, but no mention of bringing back the dividend, and likely pushes that hope back further as we pay for this. I would say most of us would like to hear of a plan of where and when this may start again. It's most likely if they make an announcement concerning that it will be on a quarterly. The 10% note thing bothers me as