Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Oct 2018other▲ Good
Calima notes Shell and partners approved the C$40bn LNG Canada project, which was the FID Calima had flagged as expected in October. Feeder pipelines would end about 20 km from Calima's acreage. Calima says it expects land values to rise (its view). Drilling is still planned before year-end.
1 Oct 2018investor presentation● Neutral
Calima shared a video of Alan Stein's presentation at the FNN Investor Event. No new results or figures.
26 Sept 2018investor presentation● Neutral
Calima shared a video interview with Alan Stein by Finance News Network on the Montney project. No new results or figures.
17 Sept 2018other▲ Good
Managing Director letter says the company is funded for its first drilling after the $25m placement. The pad is cleared, camp work starts next month, and a rig is expected on location before year-end. Resource figure of 475 mmboe is repeated, not new.
12 Sept 2018half year report● Neutral
Half-year accounts to 30 June 2018 show a net loss of $1.15m (2017: $1.27m). The period covered completing the Montney acreage acquisition, the resource report, permitting and the Namibia Block 2813B award. The placement came after this period.
12 Sept 2018investor presentation● Neutral
Cover notice that Calima is presenting at the RIU Good Oil conference on 12 September, with links to the slides and a magazine interview with Alan Stein. No new information.
12 Sept 2018investor presentation● Neutral
Calima's presentation for the RIU Good Oil conference shows 1,444m shares, an $80m market cap and $28m cash with no debt after the placement. It repeats the 475 mmboe prospective resource and drilling in Q4 2018; nothing materially new.
24 Aug 2018capital raising announcement● Neutral
Calima issued a short prospectus offering 1,000 shares at $0.054, only to allow Tranche 1 placement shares to be traded freely. It carries no new funding or news beyond the 17 August placement.
What it means for a shareholder
1,000 new shares at A$0.054 to raise about A$54. That's 0.000129% dilution: every existing holder's slice gets 0.000129% smaller. If you held A$1,000 of shares (18,519 at the issue price), your slice goes from 0.00239% to 0.00239% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
Create a free account to see this worked out for your own holding.
17 Aug 2018capital raising announcement▲ GoodMajor
Calima raised A$25m through a placement of 462,962,963 shares at $0.054, a 10.8% discount to the 5-day VWAP, cornerstoned by Tribeca. It funds the three-well Montney program from December 2018. Tribeca is also mandated to arrange up to $40m project debt, subject to due diligence. Tranche 2 needs shareholder approval.
10 Aug 2018drilling scheduled▲ Good
Calima plans three Montney wells from December: one cored vertical well, then two horizontal wells of 2,500 m, fracture stimulated and production tested for 4-6 weeks. A consultant review of over 500 nearby wells supports the design. Drilling is still planned, not started.
8 Aug 2018business combination▲ GoodMajor
Calima completed the TSVM and TMKM takeovers and now holds 100% of 72,000 Montney acres in British Columbia. The old farm-in agreement becomes redundant and will end. Mark Freeman, previously an adviser to TSVM, joins to run merger integration and business development.
1 Aug 2018other● Neutral
Required shareholder distribution schedule and top 20 list after the TSVM offer closed on 20 July. At 31 July Calima had about 959.8m shares and 2,169 holders. Administrative.
31 July 2018investor presentation● Neutral
Calima released a four-minute video of a stakeholder site tour of its 72,000 Montney acres in northeast British Columbia. No new results or figures.
19 July 2018other● Neutral
Required shareholder distribution schedule and top 20 list after the TMKM offer closed on 6 July. At 13 July Calima had 703.9m shares and 1,222 holders. Administrative.
18 July 2018investor presentation● Neutral
Calima's July presentation, for the Noosa investor conference, shows 978m shares, a $55m market cap and $5m cash with no debt. It repeats the Montney story; nothing materially new.
16 July 2018business combination▲ GoodMajor
Calima holds 98.08% of TMKM and 91.20% of TSVM and is compulsorily acquiring the rest, consolidating 100% of the Montney Project. About 420.8m new shares will be issued, 149.6m escrowed to 30 April 2019, taking Calima to about 997m shares. Drilling still planned for late 2018.
16 July 2018business combination▲ Good
With 91.20% of TSVM held, Calima is compulsorily acquiring the remaining TSVM shares and is sending notices to holders. This completes the TSVM path to full ownership, as already done for TMKM.
10 July 2018business combination● Neutral
Calima gave the formal status notice for the TSVM offer, which is already free of conditions. Calima's voting power in TSVM is 90.94%. Administrative, with no new terms.
9 July 2018business combination▲ Good
Calima declared its TSVM takeover offer free from all remaining conditions, following the minimum acceptance condition being met on 4 July. This mirrors the TMKM bid, which went unconditional on 25 June.
5 July 2018contract award▲ Good
Calima appointed Ramdar Resource Management to manage drilling and completion, and Trialta Projects to manage facilities and pipeline engineering and construction, for its planned Montney drilling. This supports the plan to drill from late 2018; no contract values given.
4 July 2018business combination▲ Good
Calima gave notice that the minimum acceptance condition of its TSVM takeover has been fulfilled. Together with the 7 June private treaty condition, key conditions are now met, though the bid was not yet declared unconditional.
4 July 2018other● Neutral
Calima's review of Western Canadian pipeline and LNG projects finds over C$70 billion of proposed investment adding about 8.4 bcf/d of capacity. It argues this could lift Montney gas prices and acreage demand; this is the company's view, not a Calima result.
3 July 2018investor presentation● Neutral
Calima released a recorded presentation by Managing Director Alan Stein on recent Montney Project activities, available on its website. No new figures in the announcement itself.
2 July 2018business combination▲ Good
With 97.34% of TMKM held, Calima is compulsorily acquiring the remaining TMKM shares. This follows the unconditional offer and moves Calima toward owning all of TMKM.
26 June 2018investor presentation● Neutral
Calima released a Q&A video with Managing Director Alan Stein covering the Montney's appeal, the team, and plans for a maiden drilling program. Repeats known plans; no new figures.
26 June 2018business combination● Neutral
Calima gave the formal notice of the status of defeating conditions for the TMKM offer, following the 25 June notice that the offer is free of all conditions. Administrative; no new information.
26 June 2018business combination● Neutral
Calima extended its TSVM offer again, to 5pm WST on 20 July 2018 (from 6 July), via a second supplementary bidder's statement. The conditions status notice moves to 10 July. The TSVM bid is still open, unlike the TMKM bid which is unconditional.
25 June 2018business combination▲ GoodMajor
Calima declared its TMKM offer unconditional, having waived the remaining conditions, after the minimum acceptance condition was met on 19 June. Calima's voting power in TMKM is 97.34%, so it is close to owning all of TMKM.
15 June 2018investor presentation● Neutral
June investor presentation repeats the Montney story (72,000 acres, 475 MMboe prospective resource, drilling from Q4 2018). Assuming both takeovers complete, it shows 975m shares, $50m market cap and $5.0m cash with no debt. Nothing materially new.
12 June 2018business combination● Neutral
Calima extended its TSVM offer to 5pm WST on 6 July 2018 (from 22 June) via a first supplementary bidder's statement. The date for the conditions status notice moves to 26 June.
