Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Feb 2018contract award● NeutralMajor
Calima appointed Calgary-based CWL Energy Management to manage its Canadian operations, under an agreement of up to 4 years with a 3-month termination clause. Pay is a monthly retainer plus incentives, which may include Calima shares, subject to shareholder approval.
6 Feb 2018regulatory community update▲ Good
Calima's Canadian subsidiary won British Columbia Oil and Gas Commission authorisation to build and operate an oil and gas road into the Calima Lands. It is the first regulatory step towards drilling, using compacted snow on existing tracks.
31 Jan 2018asset acquisition disposition▲ GoodMajor
A further 2,738 acres won in the December 2017 auction takes the Calima Lands to 72,014 acres, essentially completing the acreage strategy, above the earlier 65-70,000 target. Focus shifts to drilling preparation. McDaniel will do a resource assessment, with results due in Q1 2018.
14 Dec 2017investor presentation● Neutral
December investor presentation. Shows 490.5m shares, A$27.0m market cap, A$3.0m estimated cash and securities with no debt, and A$24.0m enterprise value. Estimated cash is down from A$7.5m in September. Strategy is described as buy, develop, monetise.
14 Dec 2017other● Neutral
1,000,000 ordinary shares will be released from escrow on 15 December 2017. Small administrative notice; most escrowed securities remain locked until 31 August 2019.
7 Dec 2017asset acquisition disposition▲ Good
Calima added 2,738 acres from recent government auctions, a 4% increase, bringing its Montney drilling rights to 70,645 acres. The managing director says this moves it close to completing its acreage strategy.
2 Nov 2017other● Neutral
Notice that a Euroz Securities analyst report on Calima is on the company website. Administrative; no figures or findings in the text.
25 Oct 2017other● Neutral
Notice that an Independent Investment Research report and a webinar recording are on the company website. Administrative; no new information in the text.
24 Oct 2017investor presentation● Neutral
Investor webinar slides repeating the Montney story: 57% of the Calima Lands, almost 70,000 acres, and a focus on monetisation after drilling. Financial figures (A$28.6m market cap, A$7.5m cash) are unchanged from September. No new information.
18 Oct 2017investor presentation● Neutral
Notice of an investor webinar with Managing Director Alan Stein on 24 October 2017. The snapshot cites A$5.0m cash and securities, A$27.5m market cap and A$1.5m of pre-completion Montney spend. Administrative.
12 Oct 2017asset acquisition disposition▲ Good
Calima was awarded another 4,107 acres in the September 2017 government auction, a 6% increase, lifting the Calima Lands to 67,907 acres. This moves it closer to its 70,000-acre year-end target.
3 Oct 2017resource reserve update▲ Good
An independent report by McDaniel says the Montney reservoirs on the 63,800-acre Calima Lands compare favourably with Saguaro Resources' developments to the south. Pay thickness and porosity are higher. It is a qualitative geological review, not a resource estimate. It closes the McDaniel report thread.
20 Sept 2017security holder rights change● Neutral
Calima set up a sale facility for small shareholdings after an offer to buy them at 5.5c a share. About 650 of roughly 1,590 holders have 8,928 shares or fewer, about 0.44% of shares; retention forms are due 1 November 2017.
14 Sept 2017investor presentation● Neutral
Good Oil Conference presentation on the Montney play. Shows 490.5m shares, A$28.6m market cap, A$7.5m cash and securities with no debt, and A$21.1m enterprise value. Repeats known facts.
13 Sept 2017asset acquisition disposition▲ GoodMajor
Calima won a further 13,714 acres of Montney drilling rights at government auctions, up 27% since 1 May 2017, taking the Calima Lands to 63,800 acres. It targets 70,000 acres by year end and proposes to drill at least three horizontal wells.
12 Sept 2017half year report● Neutral
Half-year report to 30 June 2017 for the former Azonto: net loss A$1.27m (2016: A$1.18m). It restates the Montney farm-in and Calima acquisition completed 29 August. Directors list Whiddon as Executive Chairman, with Hackett remaining a non-executive director.
7 Sept 2017drilling scheduled▲ Good
Calima licensed 60 km2 of 3D seismic and bought well data on its 51,455-acre Montney lands, and began planning three horizontal wells for drilling in 2018. It aims to lift acreage to 65-70,000 acres by year-end. This advances the farm-in work program.
7 Sept 2017director officer appointment● Neutral
Registered office changed to 1A/1 Alvan Street, Subiaco, and James Bahen appointed joint company secretary. Administrative; Bahen was already named in earlier notices.
31 Aug 2017investor presentation● Neutral
Post-relisting presentation on the Montney play. Shows 490.5m shares, A$16.2m market cap, A$7.5m cash and securities with no debt, A$8.7m enterprise value, and 22% board and management ownership. Repeats known facts.
31 Aug 2017other▲ GoodMajor
Calima begins trading on ASX as CE1 with the Montney farm-in complete. It operates and can earn up to 55% (an effective 57% with its 11.2% of TMK Montney). Management cites A$7.5m cash and securities, no debt, and the Havoc team joining.
30 Aug 2017other● Neutral
Securities trading policy setting blackout periods and clearance rules for directors and staff dealing in company shares. Administrative; no substantive news.
30 Aug 2017listing compliance notice● Neutral
ASX lists the documents released ahead of the 31 August reinstatement, such as the prospectus, top 20 holders and Calima's audited accounts. Administrative; no new facts.
30 Aug 2017other● Neutral
Company constitution released as a pre-reinstatement document. Standard administrative content; no substantive news in the text provided.
30 Aug 2017other● Neutral
Top 20 holders at 25 August 2017 own 54.8% of ordinary shares. The largest are HSBC Custody Nominees (7.58%) and Pacific World Energy (6.83%); incoming MD Alan Stein holds 4.57% directly.
30 Aug 2017other● Neutral
Computershare confirms holding locks on restricted securities for 24 months from quotation, including 51.8m shares, performance shares, 30m options and 19.45m performance rights. Administrative; matches the earlier escrow notice.
30 Aug 2017other● Neutral
Re-release of the 30 June 2017 prospectus, with the same offers: 50m shares at 4.5c and the vendor, noteholder, management option and Euroz offers. No new information in the text provided.
30 Aug 2017other● Neutral
Rules of the Calima Performance Rights Plan, covering how performance rights are offered, vest and lapse. Standard administrative document; no new grants or figures in the text provided.
30 Aug 2017other● Neutral
Unaudited pro-forma balance sheet at 31 Dec 2016 combining Azonto and Calima after the offer. Pro-forma total assets are about A$10.2m, liabilities about A$0.28m, and net assets about A$9.9m. Text is garbled; no new transactions.
30 Aug 2017annual report● Neutral
Audited accounts of acquired Calima Energy Ltd (Jersey) for the period to 31 Dec 2016: an inactive holder of Western Sahara licence interests. After year-end, in April 2017 it raised $400,015 by convertible note and bought about 11% of TMK Montney and 10% of Bahari.
30 Aug 2017other● Neutral
Shareholder distribution at 25 August 2017: 1,566 holders of 490.4m units. The 292 holders with over 100,000 units own 95.1%. Administrative.
