Ann: Q2/Q3 Drilling and Completion Operations Update, page-67

where I should pitch my buy quote.
Far be it from me to provide investment advice to someone of your experience Granty.
However, I will say ' Don't be greedy'.
I agree we have to now downgrade available free cashflow from the producing Alberta assets.
And we have to discount the likelihood of a buy-back in the immediate future.
But at this EV of C$65million Calima must inevitably be on the radar of some enterprising private Equity firms not to say hedge funds .
They can suspend all development activity and live off the residual cash flows for a few years , recover their investment and then deal with- I mean sell- the Montney assets. Easy.
Then again Calima directors could surprise us all with a Montney cash out ! Couldn't they? and how does a bid at 8 cents look then?