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Calima Energy to outline production plan for Montney Formation at Proactive Oil & Gas webinar

The oil and gas focused webinar will see three companies presenting ahead of a Q&A session at the end.

Calima Energy Ltd - Calima Energy to present Montney Formation Project update at Proactive Oil and Gas webinar
The company's CFO Mark Freeman will present at Tuesday's Proactive webinar

Calima Energy Ltd (ASX:CE1) will present its plan to bring three wells at the highly ranked Montney Formation in British Columbia, Canada, into production during Proactive’s Oil & Gas webinar this Tuesday, June 14.

Regarded as one of the top-ranked resource plays in North America and the company’s main asset, the Montney Formation is where Calima holds a 100% interest in more than 60,000 acres of drilling and production rights.

Calima's CFO Mark Freeman will make the presentation at the Proactive online forum.

After drilling was conducted on the three wells in 2019, Calima has been focused on a Field Development Plan (FDP) to bring the acreage into production.

The FDP provides the basis for a qualified reserves statement and is the foundation upon which Calima’s landholdings in British Columbia can be promoted to prospective partners and financiers.

Tommy Lakes acquisition

Calima acquired the Tommy Lakes infrastructure in April, which president Michael Dobovich said was a milestone for the company as it could potentially bring the Calima Lands into production within six to nine months.

He said: “The suspension operations have been done to a very high level and in a manner which allows them to be re-started efficiently when the Calima Lands are brought into production.”

Highlights of the facility include:

  • Cost-efficient access to North River Midstream pipeline and the Jedney processing facility;
  • Access to regional markets through the major pipeline networks including, NGTL, Alliane and T-North;
  • Gathering pipelines, compression facilities and associated faclilites capable of transporting up to 50 Mmcf/d of gas and 2,500 bbls/d of condensate;
  • Field office with a control centre and flexible camp facilities suitable for drilling operations;
  • Year-round condensate storage and off-loading facilities; and
  • Only 20 kilometres from Calima Lands with approval to build connecting pipeline already secured.

Calima believes it is well-positioned going forward with a substantial primary gas resource, a gas and liquids facility connected to sales markets, reduced overheads and a working capital position that will support the business through to early 2022.

Three companies presenting 

Three companies will present at the webinar including Calima, Carnarvon Petroleum Ltd (ASX:CVN) managing director Adrian Cook and 3D Oil Ltd (ASX:TDO) executive chairman Noel Newell. 

Event details

  • When: Tuesday, July 14
  • Time: 12 noon AEST (Sydney) time, 10am WST (Perth)
  • To register: please follow this link  

A confirmation email will contain the link to join, where you will then be able to view the live webinar.

Please forward any questions to John Phillips at [email protected]

Quick facts: Calima Energy Ltd

Price: 0.007 AUD

Market: ASX
Market Cap: $15.17 m

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