Calima Energy completed the acquisition of Blackspur Oil for C$17m.

Calima Energy, an Australian energy company, completed the acquisition of Blackspur Oil, a crude oil explorer, for C$17m. "The merger with Blackspur creates an emerging oil and gas producer with production and currentoperating cashflow of ~C$1.8million/mth in addition to a substantial reserve and resource base for future growth. At US$50 WTI the growth model is self-funding (including debt repayments) on the path to 5,500 boe/d and operating cashflow of ~C$3.5 million/mth. The Montney acreage offers material upside exposure to rising gas prices from the growth of the LNG industry in Canada and North American demand. We look forward to combining with the Blackspur team and growing the Company for all shareholders going forward," Glenn Whiddon, Calima Chairman.