10:53 AM EDT, 03/18/2024 (MT Newswires) -- RBC Capital Markets said Monday that Cardinal Energy Ltd. ( CRLFF ) 's results in the fourth quarter of 2023 were largely as expected, with volumes, netbacks, and reserves pre -released in February.

RBC said Cardinal's management provided an update on the $25 million acquisition of Mitsue/Buffalo Lake assets, Reford SAGD, and broader growth outlook.

"Overall, we do not expect a material reaction to the news and expect the stock to trade in line with oil -weighted peers," RBC said.

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