Calima Energy Ltd (OTCPK:CLMEF)

$ 0.0125 0.0025 (25%) Market Cap: 7.15 Mil Enterprise Value: 10.75 Mil PE Ratio: 0 PB Ratio: 0.82 GF Score: 0/100

Q1 2023 Calima Energy Ltd Activities Report Call Transcript

May 01, 2023 / 11:00PM GMT

Release Date Price: $0.1 (+25.31%)

Transcript

Mark Freeman

Calima Energy Ltd - Finance Director

And I appreciate you guys taking the time to listen in. We have had our best quarterly production since inception. The Company generated over 400,000 barrels of oil. This quarter equivalent, which equated to about 4,500 and 32 BOEs per day. It's taken us since the acquisition just on two years ago, started around 2000 barrels.

So, it's been a phenomenal result to get to this level. It generated revenue of about $25 million and earnings of just on $9.6 million. And we have forecasted earnings next quarter, about $27 million with sorry, with gross revenue of $27 million net earnings of 9.6. We have a small capital program, which is permitted primarily and reworking some of our wells along with free cash flow of about 9.6. And that has enabled us to do a distribution of about $3 million back to shareholders depending on market conditions and how the energy prices go.

We're expecting to do about $5 million returned to shareholders in this calendar year, and that is generating around about an 8% return. Those both those returns will most

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