Cardinal Energy declares CAD 0.06 dividend

With the Saudi 1MB/day cut (and preferentially restricting exports to U.S.), Russian curtailments taking effect, a platform and compressor station fire cutting 700,000 B/day from Mexican oil production and hedge funds increasing their oil long positions, reductions recently in U.S. rig counts, WTI prices are (finally) firming. This will underpin Cardinal’s robust dividend, obviating the need for a dividend cut anytime soon, IMO. Shareholders are paid handsomely to wait.