viewCalima Energy Ltd

Calima Energy chairman shows confidence in oil and gas strategy with on-market purchase

The company operates more than 60,000 acres of drilling rights (Calima Lands) in British Columbia, Canada.

Calima Energy Ltd - Calima Energy chairman demonstrates confidence in company’s oil and gas strategy with purchase of shares on-market
Calima has engaged Canadian Discovery to complete an in-depth analysis of the most significant Montney core retrieved to-date.

Calima Energy Ltd (ASX:CE1) chairman Glenn Whiddon has demonstrated his confidence in the company’s oil and gas strategy with the purchase of shares on-market.

On October 5, Whiddon purchased more than 7.244 million shares in an indirect interest at 0.67 cents a share, increasing the total amount of shares held in that interest to more than 24.832 million shares.

He also holds more than 64.7 million further shares in one direct and three other indirect interests.

Core analysis

In September, the company returned drill core totalling 230 metres to the core lab in Calgary where further analysis is underway to provide a comprehensive picture of the liquids production potential on the Calima Lands.

The core will also be made available for viewing to interested parties.

Importantly, the retrieval and analysis of the downhole pressure gauges from the 2019 winter drilling campaign in Calima 2 and 3 wells will provide the company’s reservoir engineers, McDaniel’s, with further data to help optimise production profiles and EUR’s (estimated ultimate recoveries) from the Upper and Middle Montney.

The downhole pressure gauges from Calima 2 and 3 will be retrieved after more than 18 months and the data gathered will reinforce reservoir pressures and capability.

Quick facts: Calima Energy Ltd

Price: 0.01 AUD

Market: ASX
Market Cap: $22.07 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Calima Energy Ltd named herein, including the promotion by the Company of Calima Energy Ltd in any Content on the Site, the Company receives...


Calima Energy and Blackspur Oil detail merger to become high margin oil &...

Calima Energy Ltd's (ASX:CE1) (OTCMKTS:RLTOF) (FRA:R1Y) Glenn Whiddon and Michael Dobovich and Blackspur Oil Corp's Jordan Kevol discuss with Proactive's Andrew Scott the planned merger between the two companies. Calima's announced it's to acquire 100% of the issued share capital of Blackspur...

2 days, 9 hours ago

2 min read