thoughts

Calima is nearly back to the capital raise price of April 2021 (14c). While the oil prices are nearly 50% higher and gas prices more than 100%. The company is planning on paying 2.5mil in dividends for the half year, more than 2.5% yield for the half. Has a buyback in place (but only buying a very small amount at the moment. Why?). EBITDA for FY22 going to be close to 100m stated 31/5/22. It has been confirmed debt-free by the end of June 30. These are all great reasons to buy.

This company seems super cheap to me.

Some of the reasons why i think it is so cheap
Based in Canada while listed on the ASX. No one cares about it. Does anyone know of any fund that owns shares?
Had stated oil and gas production of 5500 barrels of oil equivalent by the end of 2022. They are a long way off this. (But at such high oil and gas prices they are making more money than they probably ever expected)
Surprise capital raise at 20c 6 months ago.
Quite promotional. They have 2 paid analyst companies writing reports. They even “sponsor” the west newspaper to have a few articles written about them.
Management are pretty unknown. Mainly Canadian based.

Other questions
What is happening with Montney? They have been talking about doing something with this area for around a year and nothing has happened. Why? Tommy Lakes facilities and pipeline infrastructure with replacement cost estimated at A$85 million (this is nearly the market cap of the whole company). This whole area is having lots of mergers and acquisitions happening, but not Calima, who everyone knows wants to do something.

Is this just a very average company that is getting a massive boost from the oil and gas prices? Or will it actually transform into something bigger and better and still be profitable in a low pricing environment.

@madamswer@Access2020 Have i missed anything? anything that i should add?