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Energy Oil & Gas E&P

Calima Energy Limited is an Australia-based production-focused energy company. The Company is engaged in the exploration and development of oil and natural gas assets in the Western Canadian Sedimentary Basin. The Company's focuses on maintaining production from the Paradise Field in British Columbia and acquiring additional oil and gas assets.

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Calima Energy Ltd > Blackspur Sale

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Post by 66crow66 on Jan 09, 2024 11:41am

Blackspur Sale

Shareholders should hold out for 100% of the proceeds of the Blackspur asset sale. The 15% hold-back management is proposing just ensures they have a nice salary/severance until they bleed the company dry.

Management's performance has been abysmal - bought Blackspur for A$0.085 near the bottom of the recent oil cycle in 2021 and has essentially done little to enhance the companies value...procuction has been flat and the current value - A$0.135 is the result of the oil price escalation since 2021.