CALIMA ENERGY - Positive Outlook, page-195

CE1 current market cap is significantly undervalued IMO

CE1 Positive Outlook

• ~$100 million dollars in annual revenue (~$25 million revenue per quarter, as shown in below screenshot).
• ~$17.3 million dollars cash held in bank, with zero debt (pre October capital return).
• ~60% Gross Profit margin (from memory).
• 28% reduction in capital spend when compared to 2022, whilst maintaining production rates.
• Potential second capital return to occur in January 2022 (just weeks away).
• Recent increase in CE1 oil & gas production rates to over 4100 BOE per day as a result of recent successful drilling campaign.
• Pisces12 well still yet to be brought online from recent drilling campaign. Market awaiting new and increased production rates after Pisces12 well is brought online.
• Announcement confirming the completion of recent upgrades to oil & gas transport and storage infrastructure is also due (upgrades will further increase production capacity).
• A new drilling campaign commencing next year (2024) to further increase production rates has been announced (market announcement of detailed drilling plan is due any moment).
• Potential $80 million dollar sale of Brooks or Thorsby oil & gas assets could be announced at any moment (as indicated in below screenshot).

Announcement Showing Current and Future Quarterly Revenue


Announcement Showing Potential Sale of Brooks or Thorsby Oil & Gas Assets