News Articles for Calima Energy

The final piece of the land jigsaw puzzle has been put in place by Calima Energy as the ASX-listed company completed its core acquisition strategy in the lucrative and liquids-rich sweet spots of the Montney Formation in northeast British Columbia, Canada. The Perth-based explorer is now targeting the next phase culminating in a drilling campaign to take advantage of increasing oil price tailwinds.

Calima Energy has added 2,738 acres of prime Canadian oil and gas real estate to its portfolio in the liquids-rich, sweet spots of the Montney Formation in Northeast British Columbia, following successful bidding in the latest Canadian Government land auction for coveted licences in the North American oil and gas play.

SPECIAL REPORT: Financing opportunities have improved markedly from just two years ago for the state's junior miners, amid growing demand for drill rigs and skilled workers.

Calima Energy's early entry into one of the largest resource plays in North America has earned it kudos from leading broker Euroz, who has initiated coverage on the oil and gas upstart with a share price target of almost double its current price . Euroz says that Calima have acquired most of their ground in the coveted Montney Basin at a fraction of the value implied by recent comparable acreage transactions.

Calima Energy have bulked up their land holdings in the red hot, liquids-rich, Montney oil and gas play in Canada. This is the second time Calima have successfully bid in Government auctions for additional Montney acreage in the last month. The newly listed explorer's acreage has increased by 6% and the company has enhanced its position as a significant landowner in one of North America's hottest energy provinces.

An independent geologist's report has backed Calima Energy's comparisons with a highly profitable operation on neighbouring acreage in the Montney Basin, which is one of North America's hottest liquid rich gas plays. Calima's ground was found to have even better pay thickness and porosity than neighbouring ground held by Saguaro Resources, which is producing more than 10,000 barrels of oil per day.

Newly listed Calima Energy has boosted its acreage in the liquids-rich Montney oil and gas basin in Canada by 27% or 13,700 acres, establishing it is a significant new player in one of Canada's hottest oil and gas regions. The additional acreage is immediately adjacent to Calima's existing ground and was the result of some fortuitous bidding at a recent Government auction.

Calima Energy's neighbour in Canada's prolific Montney oil and gas basin has added fuel to the buzz around newly listed Calima by disclosing it expects an internal rate of return of up to 80% on its liquids-rich wells right next door to the ASX junior's acreage. The news comes as Calima moves to commission a 3D seismic survey and acquire a rich database of wells in the region

Perth oil and gas explorer Calima Energy pulled off a seriously successful back-door listing last week amid a red hot market for its new core asset in Canada's revered “Montney” oil and gas basin. The stock ran from a theoretical relisting price of 3.3c to a high of 5.9c last week before settling back to 5.3c at weeks end. Their ground in Canada is considered to be highly prospective for oil and gas.

Justin Ferravant has been appointed chief financial officer and company secretary of Strike Energy.

Azonto Petroleum's prospectus to raise up to $4.5 million reveals the use of an innovative method of finding liquids rich “sweet spots” in the company's new shale liquids play in the revered Montney oil and gas formation in Canada. Azonto's ground is directly analogous to Sauaro's ground where 32 operating wells have already been discovered.

A guaranteed $2.25 million equity injection has secured Azonto Petroleum's rebirth as Calima Energy with a stake in one of the hottest new shale plays in North America. The capital raising was a key part of a series of deals announced last month that will launch the company as a player in Canada's Montney Formation, a liquids-rich oil and gas basin of staggering proportions.

The marriage of ASX listed Azonto Petroleum to the unlisted Calima Energy is essentially a story of money meets management experience with the marriage consummated at one of the best addresses in town, the Montney oil and gas play in Canada. Calima is the creation of 5 Subiaco based geoscientists who previously took Ophir Energy from an idea to a 2 billion pound company.

Junior explorler Azonto Petroleum has announced plans to farm-in to an oil and gas project in Canada through the acquisition of one of the project's joint venture partners, which is owned by Perth executive Alan Stein.

Perth entrepreneur Mark Lapins is aiming to defy waning investor interest in tech startups, announcing plans for a backdoor listing that values his ‘internet of things' firm, Quantify Technology, at $22 million.

Israel-based materials company Dotz Nano has joined the wave of tech firms from that country seeking to raise capital in Australia via a listing on the ASX.

The developer of a gun safety device has become the fifth Israeli company in the technology or medical cannabis sectors to pursue a listing on the ASX through either an IPO or a reverse takeover of a moribund WA mining company.

Red Fork Energy has raised $47.7 million to continue development work at its Big River Mississippian project in the United States.

Rialto Energy is seeking to raise up to $21 million to fund exploration and development work at its oil and gas acreage off the coast of Cote d'Ivoire.

As global competition for resources stocks builds, the Australian Securities Exchange is aiming to stay at the front of the pack.

WA's corporate finance sector is getting back to business as a late flurry of deals get the sector warmed up for better year.

Several WA-based juniors are working to ensure they are the ‘next big thing' in oil and gas.

Oil and gas explorer Rialto Energy has announced a $60 million capital raising initiative to fund a three well drilling campaign at its Gazelle gas field off the coast of Cote' d'Ivoire.

The private sector lending arm of the World Bank Group will invest $US20 million in Rialto Energy, to support the company's oil and gas drilling programmes at Cote d'Ivoire.

Rialto Energy has announced plans to increase its interest in an oil & gas prospect off the coast of west Africa, following completion of a $55 million capital raising.

Carnarvon Petroleum and Rialto Energy have announced the farm out of part of their interest in an exploration permit off WA's north-west to Apache Energy and Jacka Resources.

West Perth-based Rialto Energy Ltd is planning to raise over $7 million via a share placement to fund exploration of its projects in the Carnarvon Basin and attract international growth opportunities.

West Perth-based Rialto Energy Ltd will raise $1.1 million through a placement to increase its stake in a joint venture with GlobalSantaFe Corporation oil and gas subsidiary Challenger Minerals Inc, the company has announced.

Advise that 2,516,666 ordinary fully paid shares that were issued on 25 May 2006 to seed investors will be released from ASX escrow on 25 May 2007.

Advise that 1,833,334 restricted shares will be released from escrow November 21, 2006.