09:51 AM EST - Cardinal Energy Ltd : Announced the 2025 budget.
2025 BUDGET HIGHLIGHTS
• Generate adjusted funds flow of $217 million ($1.30 per diluted share) at US$70 WTI;
• Average annual production of 21,300 to 21,700 boe/d for 2025 with exit 2025 production in excess of 24,500 boe/d as the Reford project begins to contribute volumes in the fourth quarter of 2025;
• Executing a conventional capital budget of $71 million and a thermal oil budget of $120 million to complete the Reford project and to de-risk our second thermal project at Kelfield;
• Drilling and completion of six (6.0 net) thermal well pairs at Reford and seven (5.2 net) wells throughout our conventional asset base to maintain production volumes in our conventional assets. Cardinal Energy Ltd
shares T.CJ are trading up $0.03 at $6.84.
