Cardinal Energy (CRLFF) released its Q4 results. With no surprise, the company generated total negative netbacks because of its exposure to the depressed Canadian oil prices.
But with the recovery in the oil prices, and considering the capital program, the company will operate at a profit, during 2019. Assuming WTI prices at US$55/bbl, the current dividend is safe. But, as management prioritizes the debt reduction, the company won't generate enough cash flow to restore the dividend to its previous level.
From several perspectives, market valuation is low. The stock