Calima reports Canada drilling success

Canada

SYDNEY, January 15, 2019 – Calima Energy has encountered gas in a vertical well in the onshore Montney Formation in Canada, the Australian company announced on Tuesday.

The Calima-1 well has intersected the top of the formation in line with pre-drill estimates and registered “elevated gas readings,” the company statement to the Australian Securities Exchange noted.

“The core recovery exceeds our expectations and will provide valuable data to determine expected reservoir performance,” Alan Stein, Calima’s managing director, said. “We should reach the bottom of the well in the next few days and will then proceed to collect wireline log data. This data will be used to confirm the depth of both of our horizontal wells, which will be drilled immediately following the completion of this vertical well.”