Brief: Cardinal Energy Ltd (Alberta) Sees 2020 Total Capex Of $63 Million - $69 Million

Cardinal Energy (Alberta)

10/12/2019 01:24

Dec 9 (Reuters) - Cardinal Energy Ltd (Alberta)  CJ.TO :
    * FOR FY 2020, OPERATING BUDGET IS EXPECTED TO PRODUCE
ADJUSTED
FUNDS FLOW OF ABOUT $125 TO $130 MILLION
    * SEES FY 2020 NET DEBT REDUCTION OF 15% BY YEAR-END
    * SEES FY2020 OPERATING EXPENSES PER BOE TO DECREASE BY
APPROXIMATELY 5%
    * SEES 2020 PRODUCTION TO AVERAGE 20,500 TO 20,800 BOE/D
    * CARDINAL ENERGY LTD  - SEES 2020 FREE CASH FLOW OF $40 TO
$45
MILLION FOR DEBT REPAYMENT
    * SEES 2020 TOTAL CAPITAL EXPENDITURES OF $63 MILLION - $69
MILLION

Source text for Eikon:  ID:nGNX3NJYnr 
Further company coverage:  CJ.TO 

 ((Reuters Messaging: Reuters.Briefs@thomsonreuters.com))