CE1 0.00% 0.9¢ calima energy limited

It was a very short and sharp Zoom meeting. There were a few...

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  1. 8,765 Posts.
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    It was a very short and sharp Zoom meeting. There were a few titbits in addition to what was in the announcement:
    - the potential transaction was for the Blackspur assets. The plan was to distribute 80-90% of proceeds to shareholders (answering Access2020's question).
    - the acquirers plan was to bundle up the Blackspur assets to reach a "critical mass" for TSX listing. This answered another common question about why we haven't listed on the TSX already - i.e. we are too small.
    - Montney lands are secure until 2031 (with license extension) with holding costs below $1million a year.
    - Mark Freeman also answered some quesitons regarding FCF projections, pointing out they were upgrades on previous estimates. More importantly, the estimate are post-capital expenditure. (I think James was talking about these issues previously).

    Overall, the For Sale sign is up, but we are going to be patient. I came away thinking it is the right approach.

 
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