CE1 0.00% 0.8¢ calima energy limited

Ann: Cash Sale of Blackspur Oil Corp for A$83.3M, page-47

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    There's been nothing said regarding the 0.4c return; neither confirmation nor withdrawal but yes it's due now but it was subject to the fulfillment of three conditions- none of which have been confirmed so they have a potential 'out' on the payment. My take is by saying nothing they'll hope it 'goes away' and the expectation of receiving it dissipates by offering up to "85%" of the proceeds from the Blackspur assets. If they don't (and I wouldn't expect it now) deliver that 0.4c payment they'd have returned only 62.5% ($7.5M of the $12M received) of the Montney proceeds back to shareholders. Appalling and again another example of managements contemptible treatment for shareholders. Hope I'm wrong. Best wishes
 
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