Edition:
United States

Cardinal Energy Ltd (CJ.TO)

CJ.TO on Toronto Stock Exchange

4.66CAD
25 Sep 2017
Change (% chg)

$0.09 (+1.97%)
Prev Close
$4.57
Open
$4.66
Day's High
$4.66
Day's Low
$4.66
Volume
49,311
Avg. Vol
859,911
52-wk High
$10.81
52-wk Low
$3.76

Latest Key Developments (Source: Significant Developments)

Cardinal Energy closes Light Oil acquisition
Friday, 30 Jun 2017 01:35pm EDT 

June 30 (Reuters) - Cardinal Energy Ltd ::Cardinal Energy Ltd announces closing of Light Oil acquisition.Cardinal does not expect to make any changes to its dividend per common share in 2017.Expects to use proceeds from these sales to reduce bank debt in Q3 and Q4 of 2017.Co's credit facilities were increased to $325 million, of which about $232 million is currently drawn after giving effect to acquisition.Total purchase price for acquisition, net of preliminary adjustments, was about $300 million, reduction of $20 million from original estimate.  Full Article

Cardinal Energy Q1 earnings per share $0.10
Thursday, 4 May 2017 07:06pm EDT 

May 4 (Reuters) - Cardinal Energy Ltd :Cardinal Energy Ltd announces first quarter 2017 results.Qtrly earnings per share $0.10.Production averaged 14,600 boe/d in Q4/16, 15,200 boe/d in Q1/17; currently producing approximately 17,000 boe/d.Qtrly petroleum and natural gas revenue $62.6 million versus $33.4 million.Q4 2017 is expected to have a reduced capital program.With drilling success in Mitsue, expect to increase drilling activity in this area in 2018.  Full Article

Cardinal Energy expects 2017 average annual production increase between 15-18 pct over 2016
Monday, 13 Mar 2017 08:21pm EDT 

Cardinal Energy Ltd : Cardinal energy ltd. Announces reserves and fourth quarter and 2016 year-end results . Cardinal energy- set to benefit from rebound in commodity prices with increased spending for 2017 . Qtrly basic and diluted per share $0.22 . Cardinal energy- expects 2017 average annual production increase between 15% and 18% over 2016 .Qtrly petroleum and natural gas revenue $43670 versus $34130.  Full Article

Cardinal Energy qtrly loss per share $0.52
Tuesday, 2 Aug 2016 05:53pm EDT 

Cardinal Energy Ltd : Cardinal energy ltd. Announces second quarter results . Increased its base capital expenditure budget by $10 million for last half of 2016 . Cardinal's credit facility was renewed at $150 million and $25 million was drawn at end of q2 2016 . Cardinal energy ltd says will continue to work towards increasing liability management ratio to exceed 2.0 in 2017 . Production for q2 was 14,621 boe/d, an increase of 3% over q1 2016 and an increase of 29% over q2 2015 . Qtrly loss per share $0.52 .Revised capex expected to result in average production of 15,100 boe/d in q4, up from previous guidance of 14,600 boe/d.  Full Article

Cardinal Energy closes equity financing and renewes credit facility
Wednesday, 15 Jun 2016 09:34am EDT 

Cardinal Energy Ltd : Credit facilities available to company were unchanged at $150 million and borrowing base was amended to $250 million .Cardinal energy ltd. Announces closing of equity financing and renewal of credit facility.  Full Article

Cardinal confirms dividend of $0.035/shr to be paid on July 15
Thursday, 9 Jun 2016 06:00pm EDT 

Cardinal Energy Ltd :Confirms that a dividend of $0.035 per common share will be paid on July 15, 2016 to shareholders.  Full Article

Cardinal Energy increases previously announced bought deal financing to $60.8 mln
Thursday, 26 May 2016 08:39am EDT 

Cardinal Energy Ltd : Has increased size of its previously announced public offering to 6,500,000 common shares . Maximum gross proceeds that could be raised under offering is approximately $66.9 million .Cardinal Energy Ltd announces an increase to the previously announced bought deal financing to $60.8 million.  Full Article

Cardinal Energy says agreed to $50 mln bought deal financing
Wednesday, 25 May 2016 04:31pm EDT 

Cardinal Energy Ltd : Underwriters will have option to purchase additional 535,000 common shares issued under offering to cover over-allotments . Cardinal Energy Ltd says intends to use net proceeds of offering to initially reduce indebtedness . Underwriters agreed to purchase for resale to public, on a bought deal basis, 5.4 million shares for $9.35 per common share . Following closing of offering, Cardinal expects to increase its base capital expenditure budget and update its 2016 guidance . Net bank debt, following closing of offering, is expected to be approximately $40 million .Cardinal Energy Ltd. Announces $50 million bought deal financing.  Full Article

Cardinal Energy Ltd confirms monthly dividend for April
Thursday, 7 Apr 2016 05:00pm EDT 

Cardinal Energy Ltd:Confirms that a dividend of $0.035 per common share will be paid on May 16, 2016 to shareholders of record on April 29, 2016 with an ex-dividend date of April 27, 2016.  Full Article

Cardinal Energy Ltd confirms monthly dividend for February
Thursday, 11 Feb 2016 06:00pm EST 

Cardinal Energy Ltd:Confirms that a dividend of $0.035 per common share will be paid on March 15 to shareholders of record on February 29.  Full Article

BRIEF-Apache announces strategic exit from Canada

* Apache Corp - also in June, Apache sold assets at Midale and House mountain, located in Saskatchewan and Alberta, to Calgary-based Cardinal Energy Ltd