Edition:
India

Cardinal Energy Ltd - Provides 2019 Guidance


Friday, 1 Mar 2019 

Feb 28 (Reuters) - Cardinal Energy Ltd ::CARDINAL ENERGY LTD - 2019 BUDGET INCLUDES OPERATING COST REDUCTION INITIATIVES TARGETING AN 8% REDUCTION IN OPERATING COSTS WITHIN 2019.CARDINAL ENERGY LTD - 2019 BUDGET FORECASTING DEBT REPAYMENT OF 10% TO 15% OF TOTAL DEBT BY YEAR-END.CARDINAL ENERGY-LOW CORPORATE DECLINE RATE IN 2019 BUDGET ALLOWS CONSERVATIVE CAPITAL PROGRAM TO KEEP PRODUCTION LEVELS NOW CURTAILED BY ALBERTA GOVERNMENT.CARDINAL ENERGY LTD - DIVIDEND LEVEL TO BE RE-EVALUATED IN APRIL 2019.CARDINAL ENERGY LTD - CONFIRMS THAT IN 2019, IT HAS PURCHASED AND CANCELLED MAXIMUM ALLOWABLE OF 10% OF OUTSTANDING BALANCE OF DEBENTURES.CARDINAL ENERGY LTD - 2019 BASE BUDGET IS EXPECTED TO PRODUCE ADJUSTED FUNDS FLOW OF APPROXIMATELY $90 TO $100 MILLION.CARDINAL ENERGY - FORECASTING TO REDUCE OPERATING COSTS/BOE THROUGHOUT 2019 BY ABOUT 8% COMPARING Q1 TO Q4 2019 ESTIMATED OPERATING EXPENSES. 

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2.2
-0.04 -1.79%
10:10pm IST