# CE1 - Calima Energy



## BESBS Player (15 December 2011)

Been watching RIA for a while now, waiting to see if the SP would drop back from their run a few weeks ago into the mid-30c range. At recent low prices over the past few days, I'm happy with this as an entry.

Firstly, I'm hoping that we might see a bit of a spike around new year if we get more confirmation of the drilling approvals for 
late Q1 2012. 
I am aware that RIA might 'go to the well' for extra funding but happy to invest some $$$ here and see if a spike hits first.
If not, guess play it as a BESBS play. The target is big so should get interest nearer the spud.
Time will tell but at these prices, given upcoming drilling in late Q1 2012 is a big target, the SP has been triple its current levels within the last year or so, and a historically low SP (within 10% of annual low) now presents itself, it ticks enough boxes for a punt.

DYOR as I am no expert in this game.



Holding RIA at 26.5c


----------



## BESBS Player (18 December 2011)

*Re: RIA - Rialto Energy*

Right on schedule, announcement on 16/12 confirms that the Ivory Coast government have given the approval for RIA to start drilling and have access rights to CI-202. :

_While this is all to be confirmed by the drill_, plans are being made for delivery of up to 8000 bopd and 100 mmscfd. This highlights that this project is a big target (company maker) if oil and gas flow as expected.

Announcement also confirmed:

* Drill in Mid-February
* Rig organised. GSF Monitor Jack-up rig to be used.


Given some stability across the wider market, this should be a good BESBS play.

Holding at 26.5c


----------



## BESBS Player (12 January 2012)

*Re: RIA - Rialto Energy*



BESBS Player said:


> Given some stability across the wider market, this should be a good BESBS play.





Volume and SP starting to build. Lovely to see 36c as drilling is still a couple of months out.

Given the potential size of the target - RIA management are claiming up to 8000 bopd and 100 mmscfd - and the fact that these are more-so development wells, this has the potential to run much further yet as a BESBS play.


Holding RIA at 26.5c


----------



## Kremmen (25 January 2012)

*Re: RIA - Rialto Energy*

Currently in trading halt while they finalise a cap raising.


----------



## Bonk (8 February 2012)

*Re: RIA - Rialto Energy*

33.5c   ....  where to now , waiting 

Anyone have info on what ?


----------



## BESBS Player (10 February 2012)

*Re: RIA - Rialto Energy*

Thought that some might like to read some extracts from a broker report. I have allowed time for it to be acted upon by followers before posting. I found this on another site. It really just summarises some of what I have been saying for a while:

*Rialto Energy Ltd
(RIA $0.34) Buy

Analyst: Jon Bishop
Date: 27 January 2012

Capital Raising

Price Target: $0.86/sh
Investment Case
We remain highly enamoured by the potential of RIA’s Cote d'Ivoire asset. The recent conditional investment of US$20m by the World Bank (IFC) reinforces our positive view. Furthermore, alignment in the interests of the IFC and the Cote d'Ivoire Government provides further surety for development once FID is met later this year. As well as converting 59mmbboe into reserves, significant value can be added with the forthcoming drill campaign which is also targeting material exploration upside. We value RIA at $620m or $0.86/sh on the assumed dilution.
Key Points
Raising
RIA intends to raise up to $68m by way of a two tranche placement ($60m) and SPP (up to $8m). Post completion of the raising, RIA will have up to $119m in cash (inclusive of the IFC $20m placement). Anticipated allocation of the cash reserves will be:
- Forthcoming CI-202 Block drilling campaign comprising 2x appraisal/exploration wells and 1x exploration well ($73m)
- Allocation for the Accra Block, offshore Ghana ($15m)
- 3D seismic acquisition costs over the CI-202 Block ($11m)
- Long-lead items towards FEED for CI-202 Block ($4m)
- General working capital
Forthcoming Drilling Campaign
The upcoming drilling campaign is expected to commence mid-February. The programme will comprise:
Appraisal
- the Gazelle P-3 and P-4 appraisal wells targeting 59mmboe 2C Resources
- Success in the appraisal campaign will ensure momentum towards FID; slated for mid-2012 on this basis.
- We value the proposed Gazelle Hub Phase I development comprising 8kbopd (with capacity of 15kbopd) and 100mmscf/d at $412m (or $0.57/sh post issue).
Exploration
- Deepening the P-3 well to test the 15mmbbls + 750Bcf Condor prospect
- At $5/bbl and $0.10/mcf in-ground, a discovery would be worth $128m (~$0.18/sh fully diluted) net to RIA (at 85% interest).
- The Chouette exploration well targeting 84mmbbls and 42Bcf of recoverable resource
- A success case would warrant a valuation of around $361m at $5/bbl in-ground or $0.50/sh) net to RIA.
Our valuation for RIA stands at $0.86/sh (vs $0.96/sh as a function of the dilution).
Valuation breakdown: $0.57/sh for the proposed Gazelle Hub development; $0.14/sh cash (net of IFC); $0.03/sh unpaid capital (to reflect IFC placement) and $0.14/sh for exploration.
Our total $620m valuation compares favourably with an EV of $99m post issue (assuming a cash and unpaid capital position of $119m inclusive of IFC placement) at $0.30/sh.
Analysis
The raising ensures that RIA has sufficient capital to fund its upcoming 3 well drilling campaign as well as the recently acquired 3D seismic over the CI-202 Block.
We remain attracted to the potential of the CI-202 Block to yield a number of meaningful oil and gas discoveries and new developments in time.
Govt ratification of the FDP and attaching Gas Sales Agreement MOU provides development momentum for RIA’s asset. The recent conditional placement to the IFC (World Bank) further endorses the CI-202 Block potential.
IFC – Cornestone Placement
IFC, the private sector lending arm of the World Bank Group, is looking to invest US$20m via a private placement, subject to IFC Board approval post a 60 days public disclosure period and RIA shareholder approval. An IFC investment is of great significance as it:
- confirms the attractive technical and commercial attributes of RIA's asset following comprehensive technical due diligence
- introduces a high quality cornerstone investor that is aligned with the interests of both the Cote d'Ivoire Government and RIA, thus ensuring smooth future development of RIA’s gas-oil dev. hub
- flags the IFC's involvement in key strategic energy projects in the region - specifically in Cote d'Ivoire
- allows the IFC to underpin its own ambitions pertaining to energy supply within country and the region
- potentially provides substantial funding in the short term towards the imminent appraisal/exploration campaign
- potentially provides an obvious and reliable source for future development debt capital
As part of the investment, the IFC is to receive 16.7m warrants at $0.50 exercisable within 4yrs.
Forthcoming Drilling Campaign
The 3-well drilling campaign, due to commence in Feb, comprises appraisal of two completed and suspended oil development wells at the Gazelle Hub by the P-3 and P-4 wells. 
The Gazelle P-3 and P-4 appraisal wells seek to covert 59mmboe (circa 14mmbbls oil, 266Bcf gas) 2C Resources into reserves.
The main focus of the appraisal drilling is to better delineate the Gazelle Field. 
The wells have been designed to intercept key contacts (ie oil:water, gasil/gas water contacts) to define field volumes.
Drill Stem Tests (DSTs) will be undertaken to recover hydrocarbon samples. The constrained flow tests will assist in substantiating whether commercial flow rates (as seen in the discovery wells) can be replicated. However, the pressure data that will be gathered from the DSTs is of greater importance.
The DST information is critical in terms of finalizing production designs for the development.
A likely extension leg to the P-3 well will test the deeper Condor exploration gas-condensate target (P50 – 15mmbbls and 758Bcf potential).
Identification of commercial quantities of moveable hydrocarbons at the Condor exploration leg of the P-3 well. A success case will have a very positive bearing upon the overall development economics.
A third well will target the high impact, oil prone, Chouette (84mmbbls P50 potential) exploration prospect at the Hippo Cluster.
Chouette lies between the Bubale (Gas-oil), Hippo (gas) and Impala (oil) accumulations discovered by the Hippo, IVCO-22 and IVCO-18 wells.
Phase II - Drilling Campaign
Conceptually, a second drilling phase (from the Dec H’12) would likely involve tying-in the Gazelle wells and appraising/developing the Hippo hub (>4 wells) which comprises a series of feeder canyons analogous to the 1Bnbbl Jubilee field.
Acquisition of 3D seismic in CI-202 is complete and should provide more detail on the Gazelle hub as well as exploration features outboard.
Exploration drilling would likely focus on the Faucon (154mmbbls and 77Bcf – P50 potential) outboard area.
Broader Potential of the CI-202 Block
The key attraction of RIA’s Cote d’Ivoire remains its prospectivity. The CI-202 Block lies within a proven petroleum system with a number of play types.
RIA has five undeveloped oil & gas fields on its CI-202 block providing portfolio depth and development flexibility.
Of the wells drilled, 11 produced commercial flow rates as high as 3.7kbopd and 40mmscf/d.
The mean gross contingent oil & gas volumes for CI-202 are currently 50mmbbls and 396Bcf respectively based on the 13 wells drilled on the block so far.
Comprehensive seismic over the block has identified a high impact inventory of large, game changing, oil and gas prospects that can easily be development via tie-back or on a standalone basis where size permits.
Current exploration portfolio of 14 identified prospects with total mean Prospective Resources of 511 mmbbls & ~1.8 Tcf.
Interpretation of new 3D over the entire block will define drill ready candidates for the Phase II campaign and test the outboard exploration potential.
Gazelle Hub - Phase I Development
The Government of Cote d’Ivoire has recently approved the Field Development Plan (“FDP”) for the Gazelle Field located in CI-202.
Consequent to the approval of the FDP, RIA will be formally granted a 25yr Exclusive Exploitation Area (58.5 km²) over the Gazelle Field.
An attaching Memorandum of Understanding (“MOU”) provides the framework for a binding take or pay Gas Sales Agreement (“GSA”) to be executed prior to Final Investment Decision (“FID”) expected mid-2012.
Targetted commencement of production at the Gazelle Hub is mid-FY’14 @ initial oil rates of 8000bopd and gas rates up to 100mmscfd for at least 7yrs.
Our forecasts assume one fixed platform (with compression and gas and liquids handling facilities) with oil & gas being piped onshore. Spare Oil production capacity of at least 15kbopd and gas of 100 mmcf/day is assumed.
We assume 20 mmbbl of oil and 300Bcf gas to be produced in the initial 7yr development phase.
We will revise our valuation and forecasts to include gas once more details on the potential gas development emerge with finalization of FID.
We assume US$400m of capex for the initial development phase would be likely funded largely via debt. The potential incorporation of IFC into the development provides an obvious and reliable source for project finance.
Geological Risks:
As the two appraisal wells are designed to test existing discoveries, barring mechanical failure, we are confident that these wells will intersect hydrocarbon bearing reservoir.
The risks therefore relate to whether the reservoir thicknesses are supportive for development and consistent with existing volumetric analysis. 
Additionally whether the reservoir quality is of sufficient quality (in terms of porosity and permeability) and of a relatively uniform nature.
And finally, whether the pressure regime is consistent across the net to gross or whether the field is compartmentalized (thus requiring a potentially more complicated development design).
Exploration drilling is subject to the normal geological risks.*


----------



## BESBS Player (10 February 2012)

*Re: RIA - Rialto Energy*

It looks like the BESBS (Buy Early Sell Before Spud) players and those who want a longer term perspective (ie. results of drill) are now flocking in as we have ended the week at 39.5c  

Apart from the obvious attractions of the project, this was always on the cards. Funding is secured, World Bank funding adds credibility, rig is on schedule, CR is offering a bargain and recent volumes suggest that paying a premium is now the only sure way of late entry.

Enjoying the ride (and yes, I'll take up my allocations). Until then, I won't adjust my entry price as we are yet to see if we get full allocations.

To the best of my knowledge, the drill schedule is still okay (as much as these things keep to stated times!)


Holding RIA at 26.5c :


----------



## Kremmen (11 February 2012)

*Re: RIA - Rialto Energy*



BESBS Player said:


> Enjoying the ride (and yes, I'll take up my allocations). Until then, I won't adjust my entry price as we are yet to see if we get full allocations.



It seems rather likely that we won't. If the SP stays around 40c, most holders would seem likely to jump at the chance to buy at 30c. (Myself included.)


----------



## BESBS Player (23 February 2012)

*Re: RIA - Rialto Energy*

Nice to see stock coming into the account at 30c and already up 35%+!!! Interesting the way they protected the '50,000 shares +' holders to get a full allocation but scaled back the smaller holders. I had one account that got scaled...

Next step is the announcement that the rig is close to readiness. Should be an announcement any day on the European market. When that hits the news, the SP should start the next leg up (assuming that the global situation holds).

Happily holding RIA at 27.5c


----------



## Smashie (28 February 2012)

*Re: RIA - Rialto Energy*

share price is at 43c, would you advise against a late buy in? - considering it ... cheers (at my own risk ofcourse)


----------



## BESBS Player (1 March 2012)

*Re: RIA - Rialto Energy*

Hi Smashie,

As always, it is ultimately up to you.
For what it is worth, here are my thoughts.

According to the ASX, the rig is now on the way to site and we should see the drill start by early-mid March. Assuming that the wider market holds, I see the following pattern:

* SP drifts between 40-45c until confirmation of rig arriving.
* SP should rise a little once drill starts (45c maybe up to 50c)
* Given the first drill will take several weeks, I think you'll see $$$ pour in closer to target. This occurred in a similar length drill with MMR some time ago. By this stage, I'd expect the SP to be between 55c (at worst) and 80c (at best) before results in the first well. After this, you punt on results...

Remember, these are just my thoughts and only time will reveal the truth.

All the best with your investments


----------



## Smashie (2 March 2012)

*Re: RIA - Rialto Energy*

Thanks alot, yeah holding at 42 cents - i've got faith!


----------



## Bonk (8 March 2012)

*Re: RIA - Rialto Energy*

This has uncertain SP .... 36.5c one moment then back to 38c . Why would one sell today and not yesterday ....why bother be in stocks. This has traded down in past week 43c to 36.5c ....38c to where tomorrow !   Just plain crazy...


----------



## Kremmen (9 March 2012)

*Re: RIA - Rialto Energy*



Bonk said:


> This has traded down in past week 43c to 36.5c ....38c to where tomorrow !   Just plain crazy...



It's understandable. There was a recent large cap raising at 30c, so there's a whole pile of stock recently acquired that can be dumped at a large profit. At the same time, there are many holders in for the long run and various broker reports suggesting they are worth much more. Once the short-term profits have been taken, we should see more stability.


----------



## BESBS Player (16 March 2012)

*Re: RIA - Rialto Energy*

Well explained, Kremmen! 

Nice to see drilling underway.

Now the wait. I can't see a huge surge in the SP at present as the target depth is still a while off and there is always a risk of mechanical/technical/'I lost my beer down the hole issues. I'm also suspecting that we might see some of the instutional placement slowly drip-fed through the early part of the drill. Lets face it, a sale at 42c on a 30c purchase is a 40% profit in a month!
That said, once closer to target, I can see a movement north in the SP. I'll be holding for quite a while as the drill bit turns. Rather than a BESBS, I'll play this as a BESBTD (Buy Early Sell Before Total Depth).

The carrot here is big. The media coverage of big numbers and an oil/gas discovery such as this, if it eventuates, should get many punters emotionally hooked. That is the time to make a killing if you are a holder at that time.

Good luck to all holders however you play this one.

Holding at 28c ave since the SPP


----------



## Smashie (17 March 2012)

*Re: RIA - Rialto Energy*

I totally agree with you Kremmen, I have been watching SP closely since I bought in late at 42c, and just as the sp breaks away north the SPP sellers give resistance... I am going to play it like you BESBS player, aiming for TD. From your experiance with spec companies, when a company meets oil and gas targets for an exploration well does the SP drop or tend to stabalise due to the new proven assets? I guess more specifically if the signs are good leading to TD would you consider holding after TD because of the next two exploration wells?


----------



## BESBS Player (20 March 2012)

*Re: RIA - Rialto Energy*

Hi RIAers!

Nice to see the SP heading northward today after the RIA update.

While it might be roughly 45 days to ETD, I am hoping that we will find the next influx of funds comes just prior to hitting the oil the first potential oil area (which could be as early as 10 days). With this in mind, provided the drill bit continues to work without any mechanical or technical issues, I could see a sudden SP rise toward the middle of next week. 
Hoping that it won't be too long and we will see 50c.

Once we get close to the first oil zone, then I'll have to think carefully about unloading much of these. After all, I limit the risk, hence BESBS (or in this case, BESBTD). 

DYOR...

Holding RIA at 28c ave


----------



## BESBS Player (20 March 2012)

*Re: RIA - Rialto Energy*



Smashie said:


> I totally agree with you Kremmen, I have been watching SP closely since I bought in late at 42c, and just as the sp breaks away north the SPP sellers give resistance... I am going to play it like you BESBS player, aiming for TD. From your experiance with spec companies, when a company meets oil and gas targets for an exploration well does the SP drop or tend to stabalise due to the new proven assets? I guess more specifically if the signs are good leading to TD would you consider holding after TD because of the next two exploration wells?




Hi Smashie,

Please note that I won't be holding until TD unless amazing announcements start filtering through very early on. For instance, we should be around the first zone of interest within 10 days, so a hydrocarbon show would be positive. 

Reading some broker reports on RIA's website, one notes vague references to the possible complexity of the target reservoir at Gazelle. Put simply, this suggests to me that the pathway between the lower target zone and a successful development might be more difficult than we assume. I hate to say but it is not often that a drill goes according to pre-drill reserve estimates.

For me, I'd rather take my profit (I'm hoping that this will be around 100%) and then stand aside unless these cracker early announcements keep coming. While I could always re-enter later, I find the best and most reliable profits are in the BESBS stage of a company's development. Nonetheless, they are just my thoughts...

I just wanted to be clear as I am not part of an RIA cheersquad but trying to watch this objectively with a great desire to protect and advance my capital. I learned long ago - emotion and share companies do not mix well very often!

All the best with RIA.
Cheers,
BESBS


----------



## Smashie (27 March 2012)

*Re: RIA - Rialto Energy*

Thanks for your input BESBS_player, I too think that the sell before spud tactic removes alot of the risk and entry into a stock early enough locks in a nice profit.

In regards to the IFU $20mil investment finalisation and 2nd drilling update report:

Positives: 
- Investment by big body (IFU) tells me that they rate this drilling program
- Drilling seems to be continuing without problems

Negatives: 
- No early hydrocarbon shows (was this even realistic though?)
- IFU $20mil placement was at 30c and they got 1 option for every 4 shares purchased
- Shares diluted even further...

will be interesting to see how traders respond today


----------



## BESBS Player (27 March 2012)

*Re: RIA - Rialto Energy*

Hi Smashie,

I agree the chances of hydrocarbons at this depth is very unlikely. I suspect we will see the SP hover until closer to next announcement. Interesting times ahead...

Holding RIA at 28c ave


----------



## BESBS Player (2 April 2012)

*Re: RIA - Rialto Energy*

Update out from SX.
Drill bit stuck - 2 weeks until drilling resumes.

Given it is mechanical, the drilling firm should have to pick up the tab. 
The SP barely moved so I suspect few traders in this one at present.

Until the next update.

Happy to hold at present...


----------



## BESBS Player (4 April 2012)

*Re: RIA - Rialto Energy*

With the delay to drilling due to mechanical issues, I've decided over the last 2 days to sell out. I am a BESBS player and was happy to hold this while the drill turned someway down. However, there are other BESBS plays around and I've used much of these funds to get set. 

If the drill resumes smoothly, I'm happy to make a decision to re-enter if it seems appropriate at the SP entry point. 
All the best to holders. I can see long term value in RIA if the rotary lie-detector confirms commercial flows. Nonetheless, one never loses money taking a profit.


Bought RIA at 28c ave

Sold RIA at 41.25c ave

Profit: 47% profit


----------



## BESBS Player (5 April 2012)

*Re: RIA - Rialto Energy*

With the delay to drilling, I've decided over the last 4 days to sell out. I am a BESBS player and was happy to hold this while the drill turned someway down. However, there are other BESBS plays around and I've used much of these funds to get set. 

If the drill resumes smoothly, I'm happy to make a decision to re-enter if it seems appropriate at the SP entry point. 
All the best to holders. I can see long term value in RIA if the rotary lie-detector confirms commercial flows.


Bought RIA at 28c ave

Sold RIA at 41.25c ave

Profit: 47% profit 

PS. Added new funds into LKO


----------



## pixel (15 August 2012)

*Re: RIA - Rialto Energy*

"Are we there yet?"
Looks like a bottom to me; the trendline has been broken, MACD turned more Bullish, and sellers seem no longer willing to lower their expectation.
I may still be wrong, which is why I bought only a small starter parcel today, but as immediate resistance (17c) has been broken, I'm aiming at 21, then 31c.





stop-loss 15.5c


----------



## Kremmen (15 January 2013)

*Re: RIA - Rialto Energy*

Maybe finally coming up from the bottom of 8.8c? Seeing strong rises over the last week.


----------



## pavilion103 (23 October 2013)

Bought at 3c

Looking strong at 4.4c on big volume today!

In my sub 10c portfolio


----------



## System (13 December 2013)

On December 13th, 2013, Rialto Energy Limited (RIA) changed its name and ASX code to Azonto Petroleum Limited (APY).


----------



## So_Cynical (11 November 2015)

Picked up 200000 of these today @ 0.007, Azonto is a backdoor shell company ready to be takeover by some cutting edge tech company, MC 9.2 Million has 7 million in cash and no debt...so many of these over the last 12 months.


----------



## So_Cynical (12 November 2015)

So_Cynical said:


> Picked up 200000 of these today @ *0.007*




Speeding ticket issued, Intraday high of 0.014 closed at *0.012* up 50% at the close = im a thousand dollars up in one day...they say that if you live long enough you get to see everything.


----------



## skc (12 November 2015)

So_Cynical said:


> Speeding ticket issued, Intraday high of 0.014 closed at *0.012* up 50% at the close = im a thousand dollars up in one day...they say that if you live long enough you get to see everything.




Yes.... it's dot com boom 2.0. Any shell company gets a random tech company backed into it and runs 600% in a week or 2.

Last week if was RYG, today it was APY and VPC.

Tomorrow, watching out for VIC.


----------



## So_Cynical (2 December 2015)

So_Cynical said:


> Picked up 200000 of these today @ 0.007




Sold half my position today @ 0.014 ~ 93% profit leaving the remaining shares pretty much free carry.

Loving these cheap reverse T/O stocks.


----------



## pixel (18 April 2016)

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01731908
Reverse Takeover; intention is, to recapitalise at 2cps.

The thing that puzzles me: Where are the "responsible gun owners" that want to pay extra to make it harder to shoot their guns? If it remains an optional extra, how many manufacturers will even bother? And I can't see the legislation pass Congress anytime soon.

Having said that, I do hold a speccie position from before the trading halt. If there is a chance of it getting towards 2c, I'm willing to part with it


----------



## So_Cynical (18 April 2016)

pixel said:


> http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01731908
> Reverse Takeover; intention is, to recapitalise at 2cps.
> 
> The thing that puzzles me: Where are the "responsible gun owners" that want to pay extra to make it harder to shoot their guns? If it remains an optional extra, *how many manufacturers will even bother*? And I can't see the *legislation pass Congress anytime soon*.




Im about half way thru reading  the big short - very inspirational  perhaps its appropriate to see APY as a black swan type play on congress and the US in general taking gun safety seriously...its never happened before but ultimately has to happen eventually.

Perhaps it will be like Marijuana and the end of the war on drugs, done state by state rather than federally via congress, appears to be the only way anything happens in the US.

------------------

Bloomberg article from late last year, explains the technology a little, seems very unobtrusive.

http://www.bloomberg.com/news/artic...uns-clipfort-s-biometric-ammunition-magazines


----------



## So_Cynical (28 April 2016)

Tragic and totally avoidable, both cases...easy to see the clear need for the clipfort Gosafe firearm technology.



			
				www.washingtonpost said:
			
		

> Mother fatally shot by toddler who found gun in car, sheriff’s office says




https://www.washingtonpost.com/news...er-who-found-gun-in-car-sheriffs-office-says/



			
				www.washingtonpost said:
			
		

> Two-year-old fatally shoots himself with gun found in mother’s purse, police say




https://www.washingtonpost.com/news...-found-in-mothers-purse-police-say/?tid=a_inl


----------



## So_Cynical (16 May 2016)

Investor presentation from last week, pitch seems to be about access with safety, you can keep your gun in the bedside draw because only you and wifey can use it, are authorised users, $250 price point seems about right, price certainly shouldn't be a negative.

http://www.azpetro.com/media/24684/20160502-GoSafe-Investor-Presentation.pdf


----------



## System (24 August 2017)

On August 23rd, 2017, Azonto Petroleum Limited (APY) changed its name and ASX code to Calima Energy Limited (CE1).


----------



## System (28 August 2020)

Whilst its Canadian Peers are Surging, Calima Energy Stands Alone and Undervalued


----------



## Miner (28 August 2020)

This gamble has paid me off


----------



## Miner (28 August 2020)

Miner said:


> This gamble has paid me off



omg 
when I posted on this thread earlier, had no clue that the price gone up by 28% with no news.
https://www.asx.com.au/asxpdf/20200727/pdf/44kwchhnvs7lj1.pdf
The only clue was in July 2020, the company look into funding to get 2P reserve and on an acquisition.
Was the price then artificially jacked up for a possible CR?
Hold.


----------



## Miner (24 November 2020)

Miner said:


> omg
> when I posted on this thread earlier, had no clue that the price gone up by 28% with no news.
> https://www.asx.com.au/asxpdf/20200727/pdf/44kwchhnvs7lj1.pdf
> The only clue was in July 2020, the company look into funding to get 2P reserve and on an acquisition.
> ...



In August 20, price shot up at no news.
Today 24 Nov price dropped at no news (public domain).* My speculation is with $2.23 M working capital, could Calima heading for a CR and inside news forced some dumping ? Just a random guess.*
Reading through the announcements :

Director resigned - why ??https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4
Director bought - https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4 - 
face value good encouraging report though reading into the report, I am unsure if it was encouraging excepting some narratives- https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4


----------



## Miner (26 November 2020)

TODAY - ANOTHER 12.5% DOWN - No published news









						CE1 share price and company information for ASX:CE1
					

View today’s CE1 share price, options, bonds, hybrids and warrants. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer analysis and key company information.




					www2.asx.com.au


----------



## peter2 (26 November 2020)

Miner said:


> TODAY - ANOTHER 12.5% DOWN - No published news




You're having us on.    It's a move of only one tick.


----------



## Miner (26 November 2020)

peter2 said:


> You're having us on.    It's a move of only one tick.



Thanks @peter2 .
To be perfectly honest, no caveat, I did not understand what you meant by You're having on us. I thought you being a real analyst, something in between I should know.
So Googled it - It probably says, I was having fun - HONESTLY, no. 

If *you* are *having* someone on, *you* are pretending that something is true when it is not true, for example as a joke or in order to tease them. [British, informal] Malone's eyes widened. '*You*'re *having me* on, Liam. '

*Be having sb on definition and meaning | Collins English ...*


----------



## peter2 (27 November 2020)

Sorry @Miner for using an Aussie expression. Yes I did think you were being funny as the tick value of CE1 is 12%. Haven't seen you around ASF  for a while. I assumed you've been in the outback. All good. The spec stocks have been jumping and I'm sure that a couple of yours have done well lately and that's why I thought you might be in a humorous mood.


----------



## Miner (27 November 2020)

Pete
No issue. Honestly from ASX site it showed the price went down by 12.5%. You got my dry humour . Yes, if it was yesterday then different. I did not check this stock yesterday when it had a large vol transaction. So retracing back, you could be 24 hours behind. That is a joke for a change this time


----------



## Miner (28 November 2020)

https://www2.asx.com.au/markets/company/ce1


----------



## Dona Ferentes (1 December 2020)

so they're all sub 1c trades. And the Market Cap .... (drumroll, please) ... $20mill _but this can vary 10% with every trade_


Australian resource company Calima Energy (ASX: CE1) is heavily involved in the Montney Formation on the Alberta / British Columbia border in Canada. In this video, Calima President Michael Dobovitch provides an update on what’s been happening with the company and its operations.

Key points in the video https://www.sharecafe.com.au/2020/11/30/calima-energy-asx-ce1-2020-and-beyond/ :

recent consolidation in the Montney Formation
what these transactions mean for Calima
how energy prices have been behaving of late and where Calima sees them heading from here
more information on the company’s recent drilling results
what’s next for Calima


----------



## Miner (17 February 2021)

CE1 - trading suspended. Not sure if trading halt and trading suspended could be same in English but differs in stock market vocabulary/
However trading halt is for 8 weeks to support a capital raising and major acquisition (Tommy Lake infrastructure  related ??) is interesting to watch with no other option . If the acquisition is related to infrastructure and then CR would look for a south way flight.


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02341779-6A1020465?access_token=83ff96335c2d45a094df02a206a39ff4
		

with $1.7 M cash, CR was not a long shot however.
British Columbia is always hypnotic attraction for me and my family - the best part of the world and lucky to live there for about three years .


----------



## Miner (13 April 2021)

Hello CE1 holders and followers
Did you receive any priority offer for the IPO of CE1


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02352348-6A1024006?access_token=83ff96335c2d45a094df02a206a39ff4


----------



## frugal.rock (21 June 2021)

Still holding Miner?

I think? there may be some potential here if all goes well with current drillings and if the POO keeps rising.
Speculative musings only, not held.


----------



## Miner (21 June 2021)

frugal.rock said:


> Still holding Miner?
> 
> I think? there may be some potential here if all goes well with current drillings and if the POO keeps rising.
> Speculative musings only, not held.
> ...



Thanks @frugal.rock 
Yes
I am still holding. Was nervous with its sliding trend for a while.
Thanks again for thinking of me.


----------



## frugal.rock (28 June 2021)

Well drilling and production update announcement out today. Best to read it yourself, a little large to place here.

Some gist of it though;

Current well drillings seem to be into known reserves and they are making good progress getting wells online and into production. 

Wells are anticipated to pay themselves off after around 5 months, using WTI poo of $70 per barrel.

Great timing to be getting wells online, with WTI currently above $74 pb.
If poo does go below $70 any time soon, I don't expect it to stay under for long...

Now held.


----------



## Miner (28 June 2021)

frugal.rock said:


> Well drilling and production update announcement out today. Best to read it yourself, a little large to place here.
> 
> Some gist of it though;
> 
> ...



Poo meaning price of oil  😀😃🙂


----------



## frugal.rock (30 June 2021)

Musing about how far this will go.
Price action still bullish.
A 10 year chart shows that it was around $1.00 per share 10 years ago....
A 5 year chart (bottom of post) shows it kicking around 5 cent from mid 2017 to mid 2019.

As we know, past performance is no indication of future performance and the historical action really is "by the by", generally speaking.

Current action is what counts and we are either seeing a "sophisticated" pump, or a market repricing of share price, or both.

The share price at close today is somewhat indicative of exact true value when considering immediately known future earnings potential using the below musings;
They have stated they are aiming for 4500 barrels per day (bopd) of production by the calender years end.
Using 4500 bopd x $70 oil price (conservative), that reprsents income of ~$315,000 per day,
or ~ $115 million annualised.

A recent cap raise around
$33 ? million is probably worth investigating on its own.

Market capitalisation at EOD today is ~$113 million.

Food for thought in current world climate of recovery, poo and supply demand scenarios.


----------



## Miner (30 June 2021)

frugal.rock said:


> Musing about how far this will go.
> Price action still bullish.
> A 10 year chart shows that it was around $1.00 per share 10 years ago....
> A 5 year chart (bottom of post) shows it kicking around 5 cent from mid 2017 to mid 2019.
> ...



I have stopped watching its price. Like my Lotto Ticket - one day before my retirement hope CE1 will reach $1. Until then  then just follow @frugal.rock 's postings to know how CE1 is going


----------



## Tommy Shelby (30 June 2021)

Haven't dug too deep on this but it feels like they've chewed up a lot of capital only to be aiming to get back to where they were before? Why did production drop down so significantly?

They're forecasting a strong EBITDA result but still have a significant amount of CAPEX lined up for the next couple years.


----------



## frugal.rock (30 June 2021)

Perhaps they had an unlucky run with the timing of the POO ?
20 year futures chart. WTI.






We are yet to see how the biggest oil price shock in history will play out on the bounce back...
Personally, I'm in and seated and belting up... or, locked & loaded, whatever floats your boat.


----------



## frugal.rock (13 August 2021)

Credit Suisse has been accumulating a 5% stake, starting end of April- now a substantial holder.

Not sure of average price in (around 0.95 cent?), however, their going to need the SP to go well above current 1 cent mark to make a decent profit... their holding around 515,000,000 FPO's

A vote of confidence, Mr @Miner ?


----------



## basilio (24 August 2021)

Share cafe is pumping furiously. 

Lots of encouraging stories.
Clearly an opportunity for short term speculation. If enough people can be persuaded  to jump in then the early birds can pluck some worms. Starting at .008c offers excellent leverage .

(Do not hold. Will not hold)









						CALIMA ENERGY LIMITED – ShareCafe
					

Calima is a public company listed on the ASX (ASX:CE1). The principal activity of Calima is investing in oil and gas exploration and production projects internationally.




					www.sharecafe.com.au


----------



## Miner (24 August 2021)

basilio said:


> Share cafe is pumping furiously.
> 
> Lots of encouraging stories.
> Clearly an opportunity for short term speculation. If enough people can be persuaded  to jump in then the early birds can pluck some worms. Starting at .008c offers excellent leverage .
> ...



closing price of POO would help the pumping as well


----------



## frugal.rock (24 August 2021)

They are currently drilling 3 wells from the same pad on proven resources , straight after each other.
Nearly finished the first one I believe?
See announcements for details and my memory may be dodgy..


----------



## dafacts (21 October 2021)

Share price is way up to $0.26 post 20:1 roll back stock actual price before consolidation  is $0.02


----------



## frugal.rock (2 November 2021)

25 October 2021
Dividend and ESG Strategy

- Based on current commodity price forecasts and expectations with respect to operational and
financial performance, Calima expects to be in a position to distribute up to 30% of free cash flow to shareholders from 2022.

- Calima would redeploy the remaining funds to support organic growth through development of Calima’s 2P reserves of 21.4 Mmboe and 64 booked1 drilling locations
(approximately 23% of identified drilling inventory).

- Board and management are focused on delivering consistent long term returns to shareholders through financial discipline and ensuring strong environmental stewardship


Have taken a small position today on the 0.245 level.
Mildly bullish oil.

By memory, they had forecast to be @debtfree by the end of the year, based off $70 per barrel.

Oil has been generally well over 70 since they made that announcement, which could see them clear before the end of the year.

I believe future earnings calcs were attractive with a SP to catch up. Info in a previous post, I think?


----------



## Dona Ferentes (8 November 2021)

basilio said:


> Share cafe is pumping furiously.   Lots of encouraging stories.
> 
> (Do not hold. Will not hold)




they're still at it. In-house research has a price target of 71c !!









						Oil Price Rise Drives Increased Price Target for Calima Energy – ShareCafe
					

Corporate Connect analyst Lara Smith has released an updated research report on Australian exploration and production company Calima Energy (ASX: CE1), increasing the 12-month price target to $0.71 per share.




					www.sharecafe.com.au
				




(_DN/WNH)_


----------



## raimop (30 December 2021)

I have picked CE1 in the competition because it is producing oil in Canada and plans to drill more wells in 2022


----------



## frugal.rock (2 January 2022)

frugal.rock said:


> 25 October 2021
> Dividend and ESG Strategy
> 
> - Based on current commodity price forecasts and expectations with respect to operational and
> ...



I think the POO will stay strong in 2022.
Set for a maiden dividend and cash positive 2022.


----------



## frugal.rock (3 March 2022)

Posted CE1 in potential BO thread this morning.

Has turned into the biggest volume day for a year. 
Can just see the bigger volume around a year ago.
If they can pluck a good announcement rabbit out of the hat soon, could see some further and more vigorous action. 

Price and volume progressing well so far. 

They are a bit behind with where they wanted to be progress wise, but nearly all companies are...
I believe there are some flow testing rates on recent drillings due soon. (I should take notes when doing FA as my memory is starting to resemble a colander bene)

If POO follows seasonal trends, peak is around September/ October.


----------

