Ann: Financial Report 2020, page-3

Ha, we've kitchen sinked the vehicle wcq, old Calima is essentially wiped out with 7 billion shares being issued at 0.007 (ie: close to shell) . Maybe one day we get some lose change for it now that we are not distressed . How Calima went from looking at interesting technology in Israel to being a patsy for a WA inc asset swap (TSV unlisted to us, and then TSV selling out in the listed market with their new shares) will haunt me for a while...Someone made money selling at 5 cents when we bought out the unlisted guys (WA inc , sigh) ..

So here we are with a brand new asset, smartly in the same region of Canada , so possibly old Calima can leverage of it. And this time we have Canadian management , so hopefully we won't be made to look even sillier by the Canadian drilling teams who love to milk a jubb foreigner for $29 mill (all written off now)....

I've been looking at our new Oil surrogates and just like with the gas acerage the pricing is all over the shop for production/proven reserves etc, the debt burdens no doubt are part of the vagaries in pricing, but for a lowly leverged play, I'm comfortable that we should trade north of 1 cent on listing as long as oil price is around current 60/bbl levels, I'm assuming we head towards 80/bbl , so 1.6 maybe possible later in the year, happy to be surprised..