Cardinal Energy Ltd (Alberta) T.CJ

Goldman still expects oil at $100 a barrel by spring:

[spurwing2]

https://www.cnbc.com/video/2023/10/05/heres-why-goldman-sachs-expects-oil-prices-to-reach-100-a-barrel-by-next-spring.html

[egee]

I suppose if the eexon/pioneer deal is a go that sounds like the bigger boy likes to invest in oil and gas?  Is this a catalyst ripple down in the overall picture

[Pottsy]

Egee, no won't have any effect. Look at the GXE addition what did that do to CJ,  nada.    P

[egee]

Thought process was on the big picture , that would show large corporations getting into m&a

[Quintessential1]

A 10% drop in oil price and only a 5% dip in CJ's share price.   Something is buoying it and if not the new barrels added what is?  Could be the secure divy putting a floor under the share price.   I am not sure one stock can float a whole sector but a good add to production, reserves and FCF can secure a divy.   Did anyone confirm that was a GXE pick up?

[mickeymouse]

There is an updated presentation on the website post acquisition - the acquisition does not appear related to Gear as there is nothing on their website and for GXE which produces about 5800 boed a divestment of 900 boed would be a material event that would need to be reported - hopefully when CJ does a "fall presentation" post Q3 results they will include their cash flow sensitivities as