• TSX CVI.A
  • CAD 1.26
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Investors

Calvalley consistently and continually generates cash flow from its international operations. Common shares are listed on the Toronto Stock Exchange (TSX) under the symbol CVI.A.

Corporate Results & Highlights

Corporate Presentation

Corporate Results & Highlights

As at December 31, 2013, the Company had 78.0 million common shares outstanding. Additionally, there were 3.8 million options outstanding that were issued pursuant to the Company's Stock Option Plan (average exercise price - $2.50/share CDN).

Overall Performance

Net income for the year ended December 30, 2013 was $23.2 million ($0.28 per share) versus $25.7 million ($0.27 per share) for 2012. Working capital at December 31, 2013 decreased to $87.0 million from $103.3 million at December 31, 2012. Funds flow from operations for the year ended December 31, 2013 decreased to $31.2 million from $35.7 million for 2012.

Production for the year of 2,516 bpd of crude oil also represented the highest annual average production level since 2007.

Investment Highlights

  • Self-funding operations (both exploration and development are internally funded);
  • Large reserves base with low historical cost structure;
  • Production characterized by high quality crude oil and good netbacks;
  • Crude oil price realizations close to quoted Brent pricing
  • Low risk development drilling opportunities to grow production;
  • Upside potential through focused exploration program;
  • Strong balance sheet no debt and large working capital position;
  • Shareholder alignment - management and directors hold approximately 25% of CVI's outstanding shares.
Calvalley employee taking a sample of condensate production at Qarn Qaymah
Calvalley employee taking a sample of condensate production at Qarn Qaymah
2013 Operational Highlights
2011 Operational Highlights
Calvalley has established a strong base of cash flow and earnings from its exploration success in Block 9. Production of 2,516 bpd was the highest annual average since 2007.
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