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ASX:CE1

Calima Energy Ltd

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Market:
ASX
Market Cap:
$107.88 m
Price
0.21 AUD
Change
5.00%
52 weeks high
4.80
52 weeks low
0.01

In brief

Calima Energy Ltd’s (ASX:CE1) business strategy is counter-cyclical, designed to take advantage of momentum returning to the oil and gas sector after the savage downturn in global oil and gas prices that started in 2014.

The company’s core asset lies within a liquids-rich sweet-spot of the Monetary Formation in northeast British Columbia where it has been able to covert around 60% of its total 63,000 acres holding to 10-year lease through a successful exploratory drilling program.

Calima is merging with Blackspur Oil Corp, a privately held Canadian company having to produce oil and natural gas assets in two core areas within Alberta - at Brooks and Thorsby.

Snapshot

  • Calima Energy concludes Leo drilling program and prepares for first oil in November
  • Calima Energy in the right place at the right time as Canada’s Montney Formation generates excitement
  • Calima Energy progresses 'extremely economic' Sunburst drilling in Canada