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Cardinal Energy Ltd (CJ.TO)

CJ.TO on Toronto Stock Exchange

4.59CAD
14 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Cardinal Energy Says Production Is Expected To Average 21,000 To 21,500 Boe/D For 2018
Tuesday, 12 Dec 2017 08:30am EST 

Dec 12 (Reuters) - Cardinal Energy Ltd ::CARDINAL ENERGY - PRODUCTION IS EXPECTED TO AVERAGE 21,000 TO 21,500 BOE/D FOR 2018.CARDINAL ENERGY LTD - PRODUCTION GROWTH IS EXPECTED TO OCCUR IN Q4 OF 2018.CARDINAL ENERGY LTD - 2018 CAPITAL BUDGET IS EXPECTED TO PRODUCE PRE-HEDGING ADJUSTED FUNDS FLOW OF $132 MILLION.CARDINAL ENERGY LTD - ‍AFTER ACCOUNTING CO'S CURRENT COMMODITY HEDGING EXPOSURE, ADJUSTED FUNDS FLOW IS EXPECTED TO BE ABOUT $125 MILLION​ IN 2018.CARDINAL ENERGY - ‍ALL ACQUISITIONS DONE IN 2018 TO BE FUNDED WITH EXCESS OPERATING ADJUSTED FUNDS FLOW, CO WILL NOT INCUR ADDITIONAL DEBT FOR ACQUISITIONS​.CARDINAL ENERGY LTD - ‍PRODUCT MIX (87% OIL/13% NATURAL GAS) IS EXPECTED TO BE 50/50 LIGHT OIL VERSUS MEDIUM OIL AT YEAR END 2018​.CARDINAL ENERGY LTD - EXPECTS TO FINALIZE ADDITIONAL ROYALTY AND FEE TITLE ASSET SALES IN Q1 2018.CARDINAL ENERGY LTD - ‍EXPECTS TO FINALIZE ADDITIONAL ROYALTY AND FEE TITLE ASSET SALES IN Q1 2018​.  Full Article

CARDINAL ENERGY ANNOUNCES DEPARTURE OF PRESIDENT SHANE PEET
Thursday, 9 Nov 2017 12:45pm EST 

Nov 9 (Reuters) - Cardinal Energy Ltd ::CARDINAL ENERGY LTD. ANNOUNCES MANAGEMENT CHANGES.CARDINAL ENERGY LTD - ‍DEPARTURE OF SHANE PEET PRESIDENT OF CARDINAL EFFECTIVE IMMEDIATELY​.CARDINAL ENERGY LTD - ‍SCOTT RATUSHNY, CARDINAL'S CEO WILL RESUME TITLE OF PRESIDENT​.  Full Article

Cardinal Energy Ltd. announces third quarter 2017 results
Tuesday, 7 Nov 2017 07:18pm EST 

Nov 7 (Reuters) - Cardinal Energy Ltd :Cardinal Energy Ltd. announces third quarter 2017 results.Cardinal Energy Ltd-qtrly ‍shr $0.21​.Cardinal Energy Ltd says ‍average production of 21,463 boe/d for Q3 of 2017​.  Full Article

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