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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (110377)	7/30/2021 3:25:49 PM
From: Goose94	Read Replies (2) of 202372

Cardinal Energy (CJ-T) revisited 3.0 Eric Nuttall on BNN.ca Market Call Friday July 30th @ 1200ET We have been able to acquire about eight per cent of the company over the past several months making us the 2nd largest shareholder after Murray Edwards. Cardinal possess at least 10 years of drilling inventory and aims to return an egregious level of returns back to shareholders once they have brought down debt levels to fortress like strength (~0.3x D/CF) early next year. Trading at 1.9x EV/’22 CF and a 39 per cent free cashflow yield we believe the company could announce a new base dividend equal to a 20 per cent yield in early 2022 and still have ample remaining free cashflow with which to add to their inventory or even grow its dividend further. With a net zero emissions status given their CO2 project we believe Cardinal could obtain a 4.0x trading multiple which would suggest a $7 share price or 136 per cent potential upside.

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