“Calima has the large scale and emerging play of Montney gas in North East British Columbia and the low-cost but high economic and cash flow generative oil projects in Alberta (Brooks and Thorsby).
We have big plans for the coming 2 years, targeting 3,400 boe/d by year end 2021 and 5,500 boe/d by year end 2022, from low risk appraisal and development drilling. Couple that with our M&A plans to pick off low hanging fruit, and we are anticipating rapid growth.
Facilities and infrastructure have been built up already to handle close to 10,000 boe/d, and pre COVID we were producing 5,000 boe/d plus.”
Jordan Kevol, CEO, Calima Energy
Calima Energy Limited is an ASX listed oil and gas producer with assets in Western Canada. Calima is focused on high growth exploration and production and has assembled an exciting and growing inventory of drilling locations across a sizeable land base within British Columbia and Alberta.
Calima is a development story for the Brooks and Thorsby production assets with combined 2P reserves of 22.5 MMboe.
The highly cost-efficient wells will generate an EBITDA of $25M USD in year 1 based on 3,400 boe/d and a base oil price of $US60.
These cashflows will enable the development of the company’s world-class Montney landholding which currently has 2C Resources of 192.4 MMboe.
Calima will also use capital generated to seek out value-rich acquisitions in interesting and complementary assets across North America.
Calima is relisting today following the successful $38M merger with BlackSpur.
View their ASX listing or click below to find out more about the company.