MARKETS

Calima raising funds for Canadian oil play

CALIMA Energy is raising funds to buy an Canadian oil producer hoping to generate steady cash at West Texas Intermediate leveraged prices while it waits for gas prices to recover further to assist its Montney development, also in Canada.

Helen Clark

Calima takes Canadian oil position

It will acquire Western Canada's Blackspur Oil Corp for a largely scrip deal made up C$12.1 million (A$12.2 million) worth of Calima shares and cash of C$4.9 million giving the ASX-listed junior producing...

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