Ann: Montney Gas and Condensate Re-testing Program to Commence, page-2

"The Company hopes to announce term sheets in hand in the coming months from one or more parties that are interested in participating with Calima in development of the Montney acreage and the related existing infrastructure. The planned re-testing of the Calima wells, and the anticipated success and magnitude of the tests, will further drive Calima’s ability to unlock value in the Montney, and could be the catalyst for a successful joint venture or investment into the project"

"The potential for a condensate rich zone in the Upper Montney could be a game changer for the value of the reserves on the acreage and the size of the prize. Calima may be sitting on a larger resource of gas and condensate than previously thought"

Great thing is the prize (few hundred mill) isn't priced in - not even 10%, 30% 50% ... upside is huge, limited downside imo with profitable operations at 4500 BOEPD already.