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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

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Post by divime1 on Oct 04, 2023 11:03am

Blood bath

on all oil stocks today . Percentage wise we are down the least . Maybe the deal announced last night is saving us further pain .
Comment by Quintessential1 on Oct 04, 2023 11:51am
Makes sense.  Hard to fault an acquisition that will add 3% to production and be paid for before Q4 end. The drop in oil price has all producers down but the EIA report was bullish for oil so ?... GLTY and all  
Comment by kavern23 on Oct 04, 2023 12:12pm
Traders/hedge funds are trading on larger news than EIA weekly inventory reports. 500k/ aday of Kurd/Iraq oil that gets sold on a pipeline to Turkey that has been shut in since March, likely a deal soon to reopen this pipeline...timed right after Saudi says their keeping production cut which was today. A 500k reopening of pipeline should equal a 5-7 dollar drop....probably being priced in. If ...more  
Comment by meritmat on Oct 04, 2023 12:16pm
  Thought I read somewhere that the oil was being rerouted so the 500k is still gettin to market. 
Comment by kavern23 on Oct 04, 2023 12:23pm
No, only a very tiny amount is, stranded oil without that pipeline opened. Kurds have lost billions and piles of unpaid wages. It makes more sense to open this pipeline than for Opec to have Russia or Saudi increase by 500K. This pipeline closure was a way to have Iraq share in the cuts which is a politically tricky thing as Iraq is still rebuilding from war decades ago...production caps for ...more  
Comment by egee on Oct 04, 2023 12:38pm
As noted from the pundits, volitilty works in both directions
Comment by jx7000 on Oct 06, 2023 2:11pm
Yup, golden buying opportunity yesterday, the 5th of Octy.
Comment by lnggasfor202324 on Oct 06, 2023 2:21pm
I couldn't agree more.  John Brussa also agrees, he bought 25000 shares at $6.90.  I would be suprised if cardnal doesnt break out Nov 7 the day after the 3rd qtr earnings release after markets close.  I bougfht The $5.00 calls for Jan 17/25 and Jan 16/26 calls as well as a boat load of shares.
Comment by Quintessential1 on Oct 04, 2023 3:36pm
I don't know about fake but it might not be a done deal yet. “We have further meetings soon and things will be more clear on how serious is Turkey to show some flexibility,” the source said, implying that the negotiations were far from complete, and that Iraq expected more movement from Turkey before oil flows could resume.  https://oilprice.com/Latest-Energy-News/World-News/Oil ...more  
Comment by kavern23 on Oct 04, 2023 10:21pm
I think the kurds are caught up in a political situation. Most of the kurd heavy oil goes to turkey and then to Europe to be refined. Kurd oil is heavy side and great for diesel. Because Europe is low on this type of oil with pipeline shut, Europe is using oil that makes more gasoline instead of diesel. Europe is getting lots of light oil. Whenever it becomes a done deal, it would drive prices ...more  
Comment by cfliesser on Oct 06, 2023 3:16pm
I don't actually think so. Iraq is at their quota. They are actually happy to have kurdish oil offline. Because if that pipeline restarts, they can't boost production beyond their quota. Would have to reduce supply elsewhere. The way I see it they are happy to have kurdish oil offline and other oil maxed out, so they get all the quota and the kurds dont. So I think it may take much ...more  
Comment by kavern23 on Oct 06, 2023 8:46pm
Iraq though still cant upset Kurds too much as Kurds have the tough soliders. It's the Kurds that gave ISIS a licken and spanked them. Iraq military wants no part of experienced and battle hardened soliders that kurds are, Kurds and Iraq gov have already agreed to a deal, kurds hand over  oil and get like 12.5% of state budget. I think holdup is more on Turkey end. Probably putin ...more  
Comment by cfliesser on Oct 06, 2023 10:44pm
Maybe, but the narrative I read is that it's turkiye that is ready to open and Iraq that is dragging their feet. 
Comment by egee on Oct 07, 2023 3:41am
Perhaps the escalating dispute with  Israel  and hammas which was declared a war by Israel will boost oil.  Get ready
Comment by Quintessential1 on Oct 07, 2023 11:17am
Only if it turns into some kind of proxy war like the Russia / Ukraine war. As it stands it looks to be an internal confict of a non-oil producing country although Israel does have a couple of refineries. I would rather speculate on who the private operator is that CJ purchased the increased 21% operating interest from in the Mitsue Gilwood deal? I am also curious if there was a lost leader in ...more  
Comment by Pottsy on Oct 07, 2023 11:37am
Hmmm, Q1, great prospective. Surely the next results will open this up to the investors.  BTW  my magic carpet says BUY, we got a bump on Friday, it says buy Monday but short term for trader's.    P
Comment by Quintessential1 on Oct 08, 2023 10:50am
Just my take P.  I see there are fingers pointing at Iran for funding hamas so increased sanctions against them could become a possibility if the US decides it wants to support Israel more than it wants low oil prices right now.  This could become part of that proxy war I was refering to earlier. It also looks like kavern23 solved the mystery of the assets seller.  My appologies to ...more  
Comment by meritmat on Oct 04, 2023 5:00pm
Ya darn near broke even. Dumped Suncor yesterday to jump more in to this so that kinda turned out since SU is Down over 2 bucks.  More fluke then anything.   Have to many shares in CJ know but I have faith they can keep paying the div
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