Operations

Operations Overview

Cardinal is a low decline, oil focused company with production in five core areas in
Western Canada.
The Company's long life conventional assets are complimented with the high growth potential of our SAGD project inventory.

Operating Areas

2026 Conventional Budget and Statistics

Operating Netback

($241MM-$265MM)
38%
17%
10%
16%
20%

Capex

($160MM)
60%
9%
7%
11%
13%

Production

(25,000-25,500 boe/d)
26%
13%
16%
20%
25%

Conv. Drilling Inventory

(# potential Tier 1 locations)
60
23
70
28

2026 Budget Forecast

100% Heavy Oil

Reford Thermal

6,500

BOE Per Day
100% Light Oil

Midale, SK

3,300

BOE Per Day
80% Medium/Heavy Oil,
20% Natural Gas

South Area

4,000

BOE Per Day
96% Medium/Heavy Oil,
4% Natural Gas

Central Area

5,150

BOE Per Day
75% Light Oil & NGLs,
25% Natural Gas

North Area

6,300

BOE Per Day

Net Daily Production