RAMcap increases its Calima position to 400million shares
July 28, 2021
RAMcap notes the announcement made today by oil & gas producer Calima Energy to propose a 1 for 20 share consolidation. RAMcap has been steadily increasing its exposure to Calima. It owns today CFDs over 400million CE1 shares- 3.9% of its issued share capital.
Jordan Kevol, Calima MD said
“The acquisition of Blackspur has been transformational for Calima and its shareholders. Blackspur’s existing production, reserves, drilling inventory, and strong management team provides Calima with significant cash flow, and the potential to grow production, reserves and free cash flow for years to come. The current price for crude oil and natural gas is building a foundation for expanded drilling programs, reserves growth and ultimately shareholder value creation. The Company is preparing for its next drilling program at Thorsby, Alberta, Canada which will commence in August. The Company is encouraged with recent M&A activity in the Montney and continues to focus on strategies to unlock shareholder value from the Montney assets through joint ventures, farm-outs or asset dispositions.”
Source: CE1 June 2021 Quarterly Report
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