Calima Energy Limited: Glenn Whiddon Leading the Path to Optimizing Asset Valuation

 Calima Energy Limited (ASX: CE1 / OTCQB: CLMEF) is an Australian oil and gas exploration and production company that focuses on responsible development of high-quality assets, primarily in Western Canada. Under the leadership of Chairman Glenn Whiddon, Calima Energy is committed to maximising shareholder value through successful exploration, development, and production activities in the energy sector. This article provides insights into Calima Energy Limited and highlights Glenn Whiddon's extensive experience and the company's plans to optimise asset valuation.

About Glenn Whiddon

Glenn Whiddon, the Chairman of Calima Energy Limited, is a seasoned professional with a diverse background in investment management and executive leadership roles. He is the Principal and Founder of Lagral, a family company focused on investment management activities in the mining, energy, and property sectors. With his extensive experience and leadership, Whiddon drives Calima Energy towards maximising value for shareholders.

Distributions to Shareholders and Potential Share Buy-Back

Calima Energy Limited intends to execute its second distribution of AUD 3 million to shareholders, as announced in the third quarter of FY2023, with the record date to be announced. The company aims to increase the frequency of shareholder distributions, subject to prevailing market conditions and commodity prices. Additionally, Calima Energy may restart a share buy-back program, prioritising continuous delivery of distributions to supportive shareholders.

Plans to Optimize Drilling and Operational Expenses

Calima Energy Limited has faced an increase in capital and operating costs over the past 18 months. However, recent stabilisation and slowing of inflation have led to more settled prices. The company plans to improve efficiencies by reducing activity during the Canadian winter and standardising operations. These measures aim to maximise value and achieve greater returns on investment in future drilling programs.

Investor Outlook and Financials

Based on the interests received, Calima Energy anticipates additional inquiries or proposals from external parties regarding the acquisition or potential utilisation of its assets. The forecasted Q2 production is on track, with an average of around 4,125 barrels of oil equivalent per day (BOE/D). The company expects to generate approximately AUD 7.5 million in free cash flow for the quarter. Calima Energy's share price is AUD 0.094 per share as of June 28th, 2023, with a 52-week range of AUD 0.093 – AUD 0.175. The company's market capitalization stood at AUD 57.6 million as of June 28th, 2023, with 612.7 million shares issued.

About Calima Energy Limited

Calima Energy Limited is a Canadian oil and gas-producing energy company focusing on responsible development of high-quality assets in Western Canada. The company generates stable production from its Thorsby and Brooks assets, primarily conventional oil and gas, with a low decline rate of around 65%. In addition, Calima Energy holds over 34,000 acres of Montney rights in the "liquids-rich" fairway, known for its abundant liquids, providing an upside opportunity in domestic gas and global LNG markets. With its substantial acreage position, Calima Energy is well-positioned to capitalise on the potential of the Montney formation and leverage the growing demand for liquid-rich natural gas.

Conclusion

Under the guidance of Chairman Glenn Whiddon, Calima Energy Limited aims to maximise shareholder value through its oil and gas exploration and production activities. The company plans to optimise asset valuation by improving operational efficiencies, managing costs, and exploring potential asset sales. With a strong focus on responsible development and a strategic position in Western Canada's energy sector, Calima Energy continues to drive growth and create value for its stakeholders.

Disclaimer: This article is for informational purposes only. Investors should conduct their own research and consult with financial advisors before making investment decisions.