CA - Cardinal Energy GAAP EPS of C$0.10 revenue of C$134.98M

2023-05-12 07:32:17 ET

• Cardinal Energy press release ( OTCPK:CRLFF ): Q1 GAAP EPS of C$0.10.
• Revenue of C$134.98M (-22.6% Y/Y).
• Production increased 5% over the same period in 2022 due to ongoing strong base performance and excellent 2022 drilling results across our asset base.
• Adjusted funds flow was C$52.3 million which was allocated to capital expenditures of C$25.3 million and dividends of C$28.7 million.
• Cardinal's net debt has decreased by 47% in the last 12 months closing at C$78 million at March 31, 2023.
• Achieved a net debt to adjusted funds flow ratio of 0.2x for the first quarter of 2023.
• Cardinal looks forward to reporting its second quarter financial and operating results and the drilling results from our Clearwater, Rex, Bantry and Midale, Saskatchewan drilling programs.

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