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

Add To Watchlist

TSX:CJ - Post Discussion

Cardinal Energy Ltd (Alberta) > Takeout possible

View:

Post by DivChase on Sep 20, 2024 10:51am

Takeout possible

I'm no acquisition expert but I think CJ is a prime target. Small producer, low debt, huge div that obscures cash flow picture, production costs seem to be going down, pretty big SAGD project done within a year. More SAGD expansions that will likely start immediately after stage 1 completed. I would think a big heavy oil player would see this as an easy way to expand. That being said, I doubt a takeout offer would come until stage 1 SAGD is completed.

Im locking in for a year to see what happens.

124

Comment

Comment by Quintessential1 on Sep 20, 2024 11:18am

Just another good reason to hold. If it doesn't get taken out in a year it brings on almost 30% more low cost production with more waiting in the wings to be brought on. Once Reford is paying out Kelfield is derisked completely. GLTY and all

Comment

Comment by VeritasVern on Sep 20, 2024 11:25am

I agree, assuming there are no setbacks or complications with the Redford development and oil stays above $70. Interestingly in their Sept report they are assuming $79 WTI

Comment

Comment by DivChase on Sep 20, 2024 12:53pm

We're going green today boys and girls

Comment

Comment by loopsbutterfly on Sep 20, 2024 2:01pm

I dont agree...TIME IS MONEY !!! I bought a big chunk well below $6,40 and sold out at over $7,35 then I bought back on the cheap.... I never fall in love !!! gracias grinnnn...

Comment

Comment by Quintessential1 on Sep 21, 2024 9:12am

CJ is a prime target for a big heavy oil player eg CVE, CNQ, SCR, ATH looking to expand. SCR is one of the best fits that I can see given they have plays in the same area and have demonstrated a desire to expand by acquisition lately and already paying a div, unlike ATH, that could be expanded by the addition of this much FCF and they are small enough to make it worthwhile unlike CVE and CNQ that ...more

Comment