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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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