Calima Energy: Achieves record production in Q3

Calima Energy Achieves record production in Q3

• Calima Energy (CE1) achieves a record in quarterly production of 382,910 barrels of oil equivalent in the three months to the end of September
• The company did however report a 19 per cent drop in revenue to $30.7 million due to a fall in West Texas Intermediate and an increase in the Western Canadian Select
• Following the quarter, the Canadian-focused oil and gas company began its five-well drilling program with first production expected in the current quarter and early next year
• Calima has grown its production base over 40 per cent in the last 12 months which will be further strengthened by its current Gemini and Pisces drilling programs
• Calima shares are trading 6.9 per cent in the red at 13.5 cents at 3:01 pm AEDT