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Calima Energy to hit ASX boards Monday, formally Azonto Petroleum

Published: 09:19 25 Aug 2017 AEST

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Calima is expected to resume trading on Monday

Calima Energy Ltd (ASX:CE1) is set to hit the ASX boards on Monday 28th August, with the re-invigorated company focussed on British Columbia.

Calima was formally Azonto Petroleum Ltd (ASX:APY), and the new entity has received $2.25 million under a prospectus offer.

The focus for the company remains on oil & gas, this time in British Columbia Canada, in the liquids rich trend of the Montney Formation.

Acquisition

Azonto has acquired Calima, which holds interests in the petroleum permits in Saharawi Arab Democratic Republic and passive minority interests in TMK Montney Limited, and Bahari Holding Company Limited, along with A$400,000 cash.

An agreement has been entered giving the new company the right to acquire a 55% working interest in the acreage position in British Columbia.

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