Calima Energy Ltd's (ASX:CE1) (OTCMKTS:RLTOF) (FRA:R1Y) Glenn Whiddon and Michael Dobovich and Blackspur Oil Corp's Jordan Kevol discuss with Proactive's Andrew Scott the planned merger between the two companies.
Calima's announced it's to acquire 100% of the issued share capital of Blackspur which is a privately held Canadian company with producing oil and natural gas assets in two core areas within Alberta - Brooks and Thorsby.
The successful merger will transform Calima into a high margin oil & gas producer leveraged to West Texas Intermediate (WTI) pricing targeting more than 5,500 barrels of oil equivalent/day by December 2022 plus exposure to rising natural gas prices via its strategic holdings in the Montney Formation.