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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) > This morning on newswire
View:
Post by 2021Gamble on Feb 28, 2023 6:48am

This morning on newswire

Cardinal Energy Reports 2022 Year-End Reserves
 
28 Feb 2023 06:29 ET  

06:29 AM EST, 02/28/2023 (MT Newswires) -- Cardinal Energy Ltd. (CJ.TO) after trade Monday presented its 2022 year-end reserves, which include a year-over-year increase in proved developed producing reserves.

PDP reserves rose to 78 million barrels of oil equivalent, representing a 4% increase year over year, the company said. PDP reserves were added at finding, development and acquisition costs of $12.03/boe, resulting in a recycle ratio of 4.1 times.

Cardinal also reported an 8% increase in PDP reserves per diluted share and a 34% increase in the associated PDP net present value, discounted at 10% of reserves, per diluted share.

On a proved plus probable basis, Cardinal's reserves rose to 113 million boe, a 2% increase year over year.

Cardinal said 91% of its proved plus probable reserves are associated with oil and natural gas liquids.

Comment by MrDales62 on Feb 28, 2023 8:55am
Still my fav dividend stock, period. With anticipated increase in oil prices, only gets better. GLTA
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