Cardinal Energy Ltd (Alberta) T.CJ

any thoughts on the reason for CJ SP today ????

[forecast123]

Following release of Q3 report, the opening and in the morning, CJ SP was deep in the red (to - 6%+).   Starting noon, there was a change of direction for SP climbing up nicely to 5.25$ high and closed at 5.20$ with a volume of 3.6M. 

 Do anyone know what led to that change of direction for CJ  SP today (from deep red to deep green!) ?  Was it due to Eric Nuttall said a few words explaining the dividend reinstatement plan in Market Call ? Was it people gradually appreciated the fact that  despite without an immediate dividend reinstatement, management is willing to commit to a defined  phased dividend reinstatement plan which is quite encouraging after all ?  Or was it after more scrutiny, people found CJ's Q3 earnings was quite good ????  

BTE Q3 report also didnt include immediate dividend reinstatement nor share buyback. The fate of
BTE SP today was not as lucky as CJ SP. It was in the red for the most part of today.

[divime1]

Cardinal provided a step by step plan to get back to paying a dividend . The pro's like a plan where management gives them a road map . They said dividend 10 times in their release . BTE mentioned a dvidend once in their 5 yr plan preceded by the word could . Could isn't a plan .  " These could include share buy-backs, a dividend and/or reinvestment for organic growth. "

[forecast123]

great observation.... I agreed with your thought !

[geezer21]

I would rather paydown debt than have a dividend. More money for me  if debt is paid down that is costing 6 to 9% for most producers.  The more debt is paid down the more money going  to capital expenditure to earn more especially in a time of rising oil prices or more to go to shareholder equity (money in the bank). Silly to want a few percent in dividends at the expense of

[caretired1]

And the Canadian banking trend of moving away from lending to this industry. Especially smaller companies. Pay it down!

[Re1ndeer2]

I agree once everyone read through the Winter Presentation it became very clear the Staged plan approach was had the "Meat"......to myself, the debt reduction,is the Priority.......the ESG presentation was impressive,,Management has Eye on the Ball