Ann: Cash Sale of Blackspur Oil Corp for A$83.3M, page-45

Commenting on the Blacksburg Sale, Mr Glenn Whiddon, Chairman of Calima said:“For some time, the share price of Calima has not accurately reflected the value of Calima’s oil and gas assets vis a vis our Canadian peers. The Blackspur Sale presents an excellent opportunity for Calima shareholders to benefit from this differential. It is the Board's objective to return the maximum amount of these proceeds to shareholders. I wish to thank all stakeholders for their support over the past few years, and importantly the management team and field staff of Calima for their focus and dedication to the Company’s assets.”_________________________________________________________________________.



..when you look at what the SP was over the last 5yrs the above comment is pretty rich..I'm sure if anyone had the time to trawl through the last 5yrs of operations and funds paid to mgmt (along with free shares) and average price paid esp by the TOP20 I'm sure very few would be coming out ahead for the holding ..really from last 5yrs of trading you would have had to purchase during a period of about 12months to be making a profit to a very slim profit Vs savings account ... shareholders to benefit from this differential?? if it wasn't from a recent sell down CE1 SP was around high 8's early last month ?? had the SP not been forced downwards how good would the deal look ??