Calima Energy’s Ceo Jordan Kevol Unveil 5 New Drilling Targets For Brooks
CALIMA ENERGY LIMITED (ASX: CE1) is an Australian oil and gas producer and explorer with high-quality assets, positive cash flow, and a strong focus on Environmental, Social, and Government Concerns (ESG). Headquartered in Perth, Australia, Calima has top-tier assets at Brooks and Thorsby in southern and central Alberta and a unique under-explored Montney in NE British Columbia, Canada. CALIMA ENERGY is compliant with international standards of Health, Safety, and Environment along with strong adherence to ESG norms across operations.
CALIMA ENERGY’S (ASX: CE1) assets in the Brooks and Thorsby regions of the Alberta province are categorized as de-risked asset bases with existing wells and booked reserves. Additionally, these are low-cost, cash-flowing assets with huge potential for upside revenue in the future. THE COMPANY is on an expansion path and focuses on development drilling to maximize the production to 5,500 BOE/D by the end of 2022 through strategic acquisitions of adjoining tenements. The Calima Energy share price (latest) is AUD 0.135.
Gemini Sunburst Program: a 3-Well Program
Gemini #10 (50% WI)
On 5 October 2022, Gemini #10 (50% WI) has been completely drilled and is expected to commence production in November. The well was drilled from the same pad as Gemini #3 and #9 and will link to the Calima’s 50% owned 15–23 Oil battery at South Brooks Field. One of the crucial factors to note is that the well is designed to boost hydrocarbon recovery in a known Sunburst Formation pool developed by vertical wells.
Gemini #11 and Gemini #12
Gemini #11 and #12 (100% WI) will consecutively occur following the highly successful vertical well (Gemini #5), which was drilled in the FIRST QUARTER OF 2022 and evaluated the feasibility of the Sunburst Formation. These wells will significantly reduce costs as they will be on‐lease tie‐ins. The wells are to be drilled from the exact drilling pad as Gemini #5 and #8. Furthermore, these wells will leverage the recently developed pipeline INSTALLED IN Q1, with the fluids flowing directly to our 2‐29 OIL BATTERY. These wells are created to grasp the unexploited reserves discovered from 3D seismic, apart from the geological data garnered from the drilling of Gemini #5 and #8.
Sunburst Wells
Sunburst wells are conventional wells operating without fracture simulations. However, depending upon the type‐curve results at current commodity prices, these wells are expected to pay out within 12 MONTHS.
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