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?
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