All three wells - Gemini 1, 2 and 3 - are classified as development wells, as they are being drilled into existing Sunburst oil pools, which have been.
Calima Energy continues to offer a combination of value, cashflow and reserves growth: Auctus Advisors
Auctus has a 3.5 cents per share target price for Calima, reflecting a valuation upside of more than 4x Calima’s current share price of 0.8 cents. Calima is planning an active, low-risk drilling program to develop proven reserves.
Calima Energy Ltd’s (ASX:CE:1) recent well performance at the core Brooks area in Canada has exceeded type curve estimates by 28%, confirming Auctus Advisors’ view that there is potential upside to the booked reserves figures.
Auctus has reiterated its target price of 3.5 cents per share as Calima continues to offer investors a combination of value and cashflow and reserves growth.