Bullboard - Stock Discussion Forum Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

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

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Cardinal Energy Ltd (Alberta) > Stock market in freefall

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Post by scienceguy36 on May 09, 2022 2:23pm

Stock market in freefall

Entire stock market in a freefall today and taking oil stocks with it. I have now loaded up on CJ to the tune of 15000 shares. Would invest more if i had it available.

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Comment by masfortuna on May 09, 2022 2:34pm

Oue decline is mainly due to the IEA releasing 160 million barrels.

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Comment by TheWokeLemming on May 09, 2022 3:20pm

Do you have a source? I see no such news.

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Comment by scienceguy36 on May 09, 2022 3:30pm

No source. Just using descriptive language to describe TSX down -528.24, Dow down -387.00, S&P down -381.00, Nasdaq down -429.82.. Don't panic its not a meltdown. Oil is being dragged with the broader market and concerns with China lockdown.

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Comment by scienceguy36 on May 09, 2022 3:44pm

I now see that the question was not directed to me. LOL. I think the poster mentioning the IEA release was to referring to the SPR of 160 mil barrels over 6 months being released by the U.S, but that has been factored into price long ago and is being partially offset with tenders to replentish at least 60 mil barrels ba ck into the SPR in the fall.

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Comment by TheWokeLemming on May 09, 2022 5:43pm

Maybe Masfortuna had a stroke or fell on his head this afternoon? It was a silly post.

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Comment by masfortuna on May 09, 2022 10:56pm

Actually NO I wasn't reffering to that. This is from today. See the link below: https://oilprice.com/Latest-Energy-News/World-News/Record-US-Strategic-Oil-Release-Surprised-IEA-Partners.html

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Comment by TheWokeLemming on May 09, 2022 11:58pm

Did you read the article? It's referring to Biden surprising the IEA with his SPR release A MONTH AGO. If you're going to post a source, please read it beforehand.

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Comment by masfortuna on May 09, 2022 10:58pm

And here is the key: The IEA, for its part, has recently unveiled the details of the release of 182.7 million barrels of oil from emergency stocks over six months. Roughly three-fourths of this will come from public stocks and the remaining fourth from lowering national stockholding obligations set on industry. IEA members announced in early April they would release an additional ...more

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