TSX:CJOil and Gas
How Cardinal’s First Thermal Heavy Oil Project And Equity Raise At Cardinal Energy (TSX:CJ) Has Changed Its Investment Story
Cardinal Energy Ltd. recently released its independent 2025 year‑end reserve reports and formally sanctioned the Reford 2 thermal heavy oil project in Saskatchewan, supported by concurrent equity financing.
This marks Cardinal’s first operational thermal heavy oil development, reinforcing its focus on low‑decline conventional assets and long-duration, predictable free cash flow.
We’ll now examine how the sanctioned Reford 2 thermal project and its expected production uplift shape Cardinal...