Cardinal Energy (CJ) has notable insider buying

Cardinal Energy (T:CJ)

Cardinal Energy Ltd. (CJ) has a high amount of executive buying compared to its mid-cap peers over the past three months. John Albert Brussa, a Director, acquired 27,000 Common Shares on a direct ownership basis at a price of $6.988 through the public market on April 4th, 2024. This represents a $188,671 investment into the company's shares and an account share holdings change of 0.7%.

Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties.