Cardinal Energy Reports 30% Growth in Year-End Reserves with New Thermal Project

An announcement from Cardinal Energy ( (TSE:CJ) ) is now available.

Cardinal Energy Ltd. announced its 2024 year-end reserves with a significant 30% growth in Total Proved plus Probable reserves, reaching 154 million boe, thanks in part to the new Reford thermal heavy oil development. This project also contributed to a 31% increase in the company’s Before Tax Net Present Value, highlighting Cardinal’s strengthened asset base and potential for future project expansions.

More about Cardinal Energy

Cardinal Energy Ltd. is a company in the energy sector, primarily focused on conventional oil and gas reserves. The company operates in Canada and has recently expanded its operations with the development of its first thermal heavy oil project.

YTD Price Performance: 1.09%

Average Trading Volume: 676,004

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: C$1.04B

See more data about CJ stock on TipRanks’ Stock Analysis page.