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CALIMA ENERGY - Positive Outlook, page-209

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1,799 Posts.

1907

13/12/23

17:17

Post #: 71431798
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Originally posted by BerserkWarrior: ↑

I agree these assets have a natural home in a Canadian/US domiciled producer & have a valuation at multiples of what the market ascribes here on the ASX. Here, as it stands Calima arguably is a cash-cow for management through the remuneration structure they've built for themselves & if that wasn't enough the additional related party transactions for Freeman in particular gall me (tell me again why a Finance Director needs to farm out Calima's financials to his own financial service company?). They're the only beneficiaries. There's a way forward....I'd like to revisit removing & replacing the Australian based directors, run the Australian domiciled office on a very lean budget (all the production expertise is based in Canada....the spin expertise is based in Perth) & move to have the assets realized as soon as WTI is again above US$100 & ALL the proceeds distributed to shareholders including the value in accumulated losses and the corporate shell that should come back to shareholders too. The Directors won't do this but we can. A 249d gets things started and at least puts the Australian Directors on notice that things will change.
Reach out to me at BerserkMental at "X".

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CE1 Price at posting: 7.3¢ Sentiment: None Disclosure: Held
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