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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (33165)	9/28/2018 7:30:43 PM
From: Goose94	Read Replies (1) of 202283

Cardinal Energy (CJ-T) top pick from Dennis de Silva on BNN.ca Market Call Friday Sept 28th @ 1200ET Cardinal is a light and medium oil company in Alberta, producing 21,000 barrels of oil equivalent per day. It offers excellent leverage to higher oil prices and lower Canadian differentials. Spending cash flow to drive mid-single digit growth combined with 8 per cent dividend for an attractive total return in the mid-teens. A large acquisition in mid-2017 has led to the company focusing on balance sheet restoration and the dividend. Very low decline helped offset reduced drilling activity through week oil price period. It’s trading at a large discount to its historical multiple and relative to the junior peer group. A key $330 million light oil acquisition was poorly timed in mid-2017 with a hung $170 million equity deal. But it laid the foundation for lightening the oil mix (50/50 by year-end), improving the profit margin and expanding the drilling inventory.

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