CALIMA ENERGY - Positive Outlook, page-250

CE1 current market cap is significantly undervalued IMO (~$39 million).


CE1 Positive Outlook

• ~$100 million dollars in annual revenue (~$25 million 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.
• 28% reduction in capital spend when compared to 2022, whilst maintaining production rates.
• Potential second capital return to occur in January 2024 (just days away).
• Recent increase in CE1 oil & gas production rates to over 4100 BOE per day as a result of recent successful drilling campaign.
• Pisces 12 well still yet to be officially brought online from recent drilling campaign. Market awaiting new and increased production rates after Pisces 12 is brought online.
• Announcement confirming the completion of recent upgrades to CE1 oil and gas transport/storage infrastructure is also due (completed upgrades will further increase production capacity).
• A new drilling campaign has been announced, commencing in 2024 (announcement regarding further details due at 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