Proactive Investors China - The web's leading portal for China stocks - Calima Energy resumes trading after raising A$37.9 million and acquiring oil producer
2021-05-03 by Proactive Australia Calima Energy Ltd (ASX:CE1) has resumed trading on the ASX as a conventional oil and gas producer focused on generating free cash flow from the development of assets in western Canada. This follows a strongly supported capital raising which raised A$37.9 million and the acquisition of Blackspur Oil Corp. Two shallow producing fields Calima has taken advantage of the troubled Canadian oil sector to acquire the highly indebted Blackspur Oil Corp at a very favourable price. Blackspur's Brooks and Thorsby assets are two shallow producing fields (50-70% oil) in A...