Australia's largest stock trading and investment forum Australia's #1 stock forum

CE1

0.00%

0.9¢ calima energy limited

Ann: Company Update, page-126

First 126 Last

Share
Profile

Follow
monark

7,877 Posts.

481

30/06/23

16:34

Post #: 68559215
Share

Originally posted by James7821: ↑

EDIT: My quote function didn't work. This is for monark,

I am not sure where you get the $15-25m capex as reported by management. I am interested to know where you heard or saw this, so I can work out why it's different to their statement that they will need $25-35m for capex to maintain current production levels in an announcement a few months ago.

If this was in the webinar, were they perhaps talking about capex remaining for the final two quarters of the calendar year? That would make sense to me, given they already spent about $11m for the Q1 and likely nil or small amount for Q2 (I estimate).

I also want to know how you figure earnings are $10m per quarter. Didn't they announce this quarter given the current price of oil their cash from operations is $7.5m?

So I calculate using $7.5m pq annualised so $30m, and the midpoint of $25-35m for maintenance capex = $0 net earnings.

Thanks

Expand

This may assist James..

Earnings of $9.6m in Q1 - id expect a bit higher in Q2 given WCS is higher in Q2 than Q1
FCF of $7.5m (not earnings) anticipated in Q2... beating forecast of $6.6m but no one mentions that.
And yes, correct - CAPEX of $25m - $40m (not $15m-$25m as i noted earlier), leaving FCF of $5m-$15m for 2023 based on current oil prices. If you think oil will go up, FCF will increase materially.

So $5m-$15m FCF at current oil prices + Montney + upside as i believe WTI at the bottom of cycle.

Last edited by monark: 30/06/23

CE1 Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
7 Upvote

3 Great analysis

Reply

Top Stories

What's causing the cost-of-living crisis, and how to navigate it

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

MKT

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