Calima Energy: Achieves highest production revenue in H1

Calima Energy Achieves highest production revenue in H1

• Calima Energy (CE1) achieves its highest ever production revenue since inception of $68 million in the first half of 2022
• This 81 per cent increase on the first half of 2021 reflects an 18 per cent increase in production to 705,461 barrels of oil equivalent from the Brooks and Thorsby operations in Canada
• Adjusted EBITDA also increased 131 per cent (excluding hedge losses of $13.5 million) to $40.4 million
• Since recently acquiring additional land around its Brooks operations, CalimaEnergy has plans to drill 21 horizontal wells over the next three years
• CE1 shares close 8.33 per cent in the green at 13 cents