CALIMA ENERGY - Positive Outlook, page-137

First 137 Last

Share
Profile

Follow
CEOChair

27,684 Posts.

4748

12/11/23

14:13

Post #: 70854052
Share

Originally posted by rosencrantz ↑

I've been offered the opportunity to participate in a placement - at 13% discount from last- in Canning Basin hopeful Buru Energy.
BRU offers a significant, contingent resource - like so many wannabes- but lacks what Calima has being proven, producing reserves ( of oil and gas).
I'm obliged to ask : can I do better in BRU ?
Calima subsidiary Blackspur has reported 2P reserves of 13Million barrels of oil....marginally depleted by production since December 2022 although continuing success in the waterflood pools could possibly see 2P oil reserves maintained at 13million bbls in December 2023.
At the current CE1 price that's an EV/Reserves ratio of less than A$4.00 per bbl. Let's call that C$4.00 per boe after allowing for the gas reserves.
Then again Blackspur offers a very attractive -to an acquirer- LMR ratio approaching 6. For the uninitiated the Alberta regulator says this:
We use a liability management rating (LMR) to help us assess a company’s ability to address its abandonment, remediation, and reclamation obligations. The LMR is calculated as a ratio of a company’s deemed assets (production) to its deemed liabilities (abandonment and reclamation costs).
Given the respective EV/Reserves and LMR ratios.. Blackspur must be a very attractive target for another Alberta E&P . Do you agree?
Can you identify an Alberts E&P trading on more attractive metrics?
I need an answer before 5:00pm Monday when my BRU bid is due.

Expand

13% discount to 13.5c isn’t a round number - was it 11.5c, which is 15%?
are you a Soph?
Who offered this to you?

CE1 Price at posting: 8.4¢ Sentiment: None Disclosure: Not Held
1 Upvote

2 Great analysis

Reply

Top Stories

PFE

Pantera begins drilling of maiden test well at Smackover

C29

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

QHL

Aerospace smallcap Quickstep Holdings jumps nearly 100% after 40cps takeover offer

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

There are more pages in this discussion • 128 more messages in this thread...

First 137 Last

Add CE1 (ASX) to my watchlist

(20min delay)
Last 0.9¢		Change 0.000(0.00%)		Mkt cap ! $5.149M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

CALIMA ENERGY - Positive Outlook, page-137

Pantera begins drilling of maiden test well at Smackover

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Aerospace smallcap Quickstep Holdings jumps nearly 100% after 40cps takeover offer

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Featured News

CALIMA ENERGY - Positive Outlook, page-137

Top Stories

Pantera begins drilling of maiden test well at Smackover

C29 Metals wins Kazakhstani uranium drill run green tick, Kazatomprom talks mature

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Aerospace smallcap Quickstep Holdings jumps nearly 100% after 40cps takeover offer

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Featured News