• Calima’s acquisition of the Tommy Lakes Infrastructure has closed. 
• The Facilities provide Calima with pipeline access to regional, national and US markets via the major pipeline networks such as NGTL, Alliance and T-North. 
• The Facilities are fully permitted and have been preserved for future recommissioning. 
• Estimated replacement value: A$85 million. 
• Acquisition costs came in materially under budget at ~A$750,000. Holding costs are anticipated at A$500,000 per annum. 

Calima Energy has closed on the acquisition of the Tommy Lakes Infrastructure as announced on 19 February 2020. 

Micheal Dobovich, President commented: 
“The acquisition of the Facilities is a major milestone for Calima. We are now in a position that with stable market conditions, the Calima Lands could be brought into production within 6-9 months. The suspension operations have been done to a very high level and in a manner which allows them to be re-started efficiently when the Calima Lands are brought into production. I am also pleased to announce that the acquisition was completed under budget with a total expenditure to complete the acquisition and shut-in estimated at ~A$750,000. Together with its advisors, Calima is diligently working on a strategy for the development of these lands”.