Cardinal Energy Ltd (Alberta) T.CJ

Debt Free by now, what will they do with the extra cash!

[JosephM1]

Special Dividends are going to be huge along with buy backs!

[EvilPompoo]

Hopefully they'd spend it the same way I would...  Boats and Hoes...

[Quintessential1]

I would like to see them buying back as much as the NCIB and share price will let them during 2023 while they are still getting what basically amounts to a 2% discount now. What should the buyback floor be set at?   Given that I would like to see the share price blow by $10 and never go under it again I think they should be maxing out buybacks at $12 per share and under.  If the

[vwbusman]

That sounds good - I also think with the upcoming 2% tax in 2024, they should hold off on a dividend increase and funnel all extra cash into NCIB and maybe an SIB until like you said, something like $12 is hit, then switch gears back to dividend increases, special divies.

[ziggy1410]

2% talk of buyback tax is all smoke, similar to Freelands Disney subsription cancellation...All Smoke,,

[JosephM1]

 Irrelevant when in 4th quarter or beginning of 1st quarter Cardinal goes completely debt free! But my off the cuff is as follows. As of June 30, net debt was 62 million. 3rd quarter free cash flow of lets say 70 million after cap ex   70 million minuse buyback of 3.4 mill shares at 7, 25 million, leaves 45 million available to reduce debt in q3.

[JosephM1]

hit post too soon. LOL 45 millon to reduce debt and pay dividend of aproximately 28 million.  or 17 million in debt reduction. But again, really irrlevant

[sclarda]

JosephM1 wrote Irrelevant when in 4th quarter or beginning of 1st quarter Cardinal goes completely debt free! But my off the cuff is as follows. As of June 30, net debt was 62 million. 3rd quarter free cash flow of lets say 70 million after cap ex   70 million minuse buyback of 3.4 mill shares at 7, 25 million, leaves 45 million available to reduce debt in q3. ----------------------