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Calima Energy Ltd s drilling program progressing well as oil price hovers above US$70

Calima Energy Ltd s drilling program progressing well as oil price hovers above US$70
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Calima Energy Ltd lifts guidance for Canadian operations in line with strong production growth

In addition to the three drilling operations (two new wells and 1 re-entry) completed in March 2021, Calima completed additional workovers and well.

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Calima Energy Ltd begins campaign of three horizontal wells at Brooks Project in Canada targeting Sunburst Formation

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.

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Calima Energy Ltd maintains Canadian momentum as flow rates exceed estimates by 28% and production increases

Calima Energy maintains Canadian momentum as flow rates exceed estimates by 28% and production increases Production is ~2,818 boe/d (69% oil), an increase of 14% from Q1 2021 production of ~2,475 boe/d (68% oil) while capital expenditure has been 20% under budget. Calima is planning an active, low-risk drilling program developing proven reserves. Calima Energy Ltd (ASX:CE1) (FRA:R1Y) is “extremely pleased” with flow rates from three horizontal Sunburst Formation operations performed by subsidiary Blackspur Oil Corp at the core Brooks area in Canada which have exceeded type curve estimates by 28%. As well as the combined IP30 flow rates of 505 boe/d (80% oil-weighted) in March exceeding the budgeted 393 boe/d for the three wells, capital expenditure was also 20% under budget at C$2.2 million.

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Calima Energy Ltd watches as merger target Blackspur completes three well drilling program aimed at boosting Brooks production

Calima Energy Ltd watches as merger target Blackspur completes three well drilling program aimed at boosting Brooks production
proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.

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