Calima Energy: Completes Montney re-testing program

Calima Energy Completes Montney re-testing program

• Calima Energy (CE1) wraps up its Montney re-testing program on Wells 2 and 3, both on time and “substantially” under budget
• The company says the program will aid its development plans for its 34,000-acre Montney asset
• Calima Well 2’s peak 24-hour condensate rate was 396 barrels per day (bbl/d) at a rate of 3.4 million standard cubic feet per day (mmcf/d) gas, while Well 3’s peak 24-hour condensate rate was 21.7 bbl/d at a rate of 4.9 mmcf/d gas
• The company says it was able to execute the program under budget following the 5,900 barrels of oil produced and sold from the wells
• Shares in CE1 are trading at 14 cents at 1:50 pm AEDT