In a recent update, international oil & gas company, Calima Energy Limited (ASX:CE1) notified that it has closed on the acquisition of the Tommy Lakes Infrastructure (Facilities). In addition, the Company informed:
- The acquisition costs stood at ~$750,000, materially under budget.
- Holding costs are expected to be at $500,000 per annum.
- Replacement value is estimated at $85 million.
- Facilities are fully permitted and have provided pipeline access to regional, national and the US markets through major pipeline networks like NGTL, Alliance and T-North.
- Facilities have been preserved for future recommissioning.
On 20 April 2020 (AEST 11:57 AM), CE1 stock was inching upward by more than 33%, trading at $0.004.