Calima Energy is an Australia listed ~US$50 mm market cap low risk conventional oil producer with ~26 mmboe WI 2P reserves in Canada and ~2.6 mboe/d WI production. Calima has taken advantage of the troubled Canadian oil sector to acquire the highly indebted Blackspur Oil at a very favourable price. With a prudently levered balance sheet and no exploration risk, the initial focus is to (1) >2x production by YE22 and (2) aggressively develop highly economic reserves that have been booked conservat ....
29 Apr 2021
Calima Energy Ltd (ASX: CE1): Initiating Coverage
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Calima Energy Ltd (ASX: CE1): Initiating Coverage
Calima Energy is an Australia listed ~US$50 mm market cap low risk conventional oil producer with ~26 mmboe WI 2P reserves in Canada and ~2.6 mboe/d WI production. Calima has taken advantage of the troubled Canadian oil sector to acquire the highly indebted Blackspur Oil at a very favourable price. With a prudently levered balance sheet and no exploration risk, the initial focus is to (1) >2x production by YE22 and (2) aggressively develop highly economic reserves that have been booked conservat ....