News Articles for Calima Energy

This week's Bulls N' Bears top ASX runner is … Orion Equities. Its shares rose more than 250 per cent to join fellow movers and shakers Pan Asia Metals, MTM Critical Minerals and Calima Energy.

West Leederville-based oil and gas junior Calima Energy is set to sell its Canadian subsidiary to Astara Energy for a cash consideration of $83.3 million.

Perth-based oil and gas junior Calima Energy has “reluctantly” carved out some of its Canadian assets for almost $12 million amid cost pressures.

Our board moves wrap includes Karl DeMong, Jordan Kevol, Graham Veale, Scott Lowe, and Adam Bick.

Our weekly appointments wrap includes Michael Gunner, Kevin Brown, Paul Steel, Jerry Lam, James Abson, Renato Braz Sue, David Boshoff, Tully Carmady, Kris Warren, Vanessa Martin and Ronald Hurst.

Our board moves wrap includes Karl DeMong, Brett Lawrence, Jason Kulas, Timothy Jugmans, Susan Thomas, Ged Hall, Dennis Jensen, Robert Scott, ZhaoYa Wang, WangHong Yang, Rowan Johnston, Ben Laird, Peter Wallace, Lawrence Marshall, Benjamin Donovan, Julien Sanderson, Matthew Carr, Tamara Brown, Michael Skead, and Laurie Marsland.

Rockingham-based WA Kaolin has garnered $12 million via a placement and loan facility to fund the second stage of its Wickepin kaolin project southeast of Perth.

Calima Energy has appointed Mark Freeman as finance director, and Alan Stein has stepped down from the board.

ASX-listed Calima Energy has released the preliminary findings of an independent technical study which confirms the rich liquids potential and strong gas productivity of the Upper and Middle Montney zones across its 60,000-plus acres of ground in Canada. More importantly, the review points to fresh oil and gas resource volumes in the currently ‘unbooked' Lower Montney interval on Calima's ground.

Today's board moves wrap includes Keith Middleton, Neil Hackett, Andrew Edwards, and Ian Macliver.

Our board moves wrap includes Mark Freeman, James Bahen, Nicholas Sage, Costa Tsesmelis, Alexander Hewlett, Paul Adams, Simon Durack, Laura Coles, Jon Bennett, Kate Pass, Lloyd Smith, and Tony Ottaviano.

Calima Energy has made some changes to its management structure to maintain balance sheet strength, preserve flexibility and reduce overheads across the business.

Our board moves wrap includes Jonathan Taylor, Timothy Spencer, David Crook, Paul Payne, Dennison Hambling, Peter Kennan, Aleksandra Spaseska, and Vicki Robinson.

Our daily board moves wrap includes Brett Lawrence, Cliff Lawrenson, Rick Crabb, Michael Shirley, Brian Elton, and Chris Brophy.

Calima Energy has raised around $12.7 million, via a placement and entitlement offer, with the funds set to be primarily used for general working capital purposes.

Anson Resources has closed a share purchase plan, raising $608,700 from 84 applicants.

Calima Energy has wrapped up drilling of the second horizontal well at its Canadian Montney oil and gas play and is now preparing to complete both wells for the key production testing in early March. The rate at which the wells will be tested has been optimised to maximise the recovery of condensate and other natural gas liquids whilst providing the best estimate of the condensate yield once they are placed on long term production.

Calima Energy is set to rake in revenue of up to CAD$400,000 per year after bringing the Paradise oil well in northeast British Columbia back into production at a rate of between 16 and 20 barrels of oil per day. Revenue from the well will help pay for the company's Canadian overheads, allowing it to focus on the high impact drilling program in the revered Montney oil and gas play.

Calima Energy has spudded the second of two horizontal wells at its Canadian Montney oil and gas play that will be placed on extended production testing to assess the commerciality of its acreage. Successful testing of the Calima-2 and Calima-3 horizontal wells will allow the company to convert at least some of its resources from prospective to the higher confidence contingent level.

Wireline logs at Calima Energy's first well at the revered Montney oil and gas play in Canada have returned porosities and hydrocarbon saturations comparable to those in adjacent producing wells. Analysis of the log and core data also confirmed the presence of three zones that match those already targeted by other operators in the region. The company has also spudded the first of two horizontal wells.

Calima Energy has successfully intersected the target Montney formation in the first of three gas wells completed in British Columbia, Canada, reporting that a 230m vertical section of the rock sequence was recovered at a depth of about 1.5km below surface. The company said that elevated gas readings were encountered during the drilling program, with gas escape bubbles noted at the base of the drilling rig during operations.

Calima Energy has kicked off its three well drilling campaign in the revered Montney formation in British Columbia, Canada, with the spudding of the Calima-1 vertical well. This will be followed immediately by the drilling of the two horizontal wells, which will be fracture stimulated and put on an extended production test over a period of 4-6 weeks.

Calima Energy is now tantalisingly close to drilling its exciting oil and gas play in the revered Canadian Montney formation with the access road to the drill pad for its planned three well program now complete. Calima's share price has held steadfast over the last year with only one brief foray below its floor price of 4.5c as investors choose to stay the course and await the moment of truth.

Calima Energy has contracted Precision Drilling's Rig 379 to carry out its three well program in the Montney oil and gas play in British Columbia, Canada with drilling to get underway as soon as December. The first well to be drilled will be a vertical well to provide data and samples for measurement and analysis followed by two horizontal wells that will be fracture stimulated.

Calima Energy is poised to benefit from Shell's decision to proceed with its massive CAD$40bn Canadian LNG project in British Columbia that will source gas from the Montney oil and gas formation to produce an initial 14 million tonnes of LNG per annum. Calima is planning to start drilling one vertical well in the Montney to provide data and two horizontal wells that will be placed on extended production testing before the end of this year.

Calima Energy has raised $25m through an oversubscribed two tranche private placement of 462.97 million shares priced at 5.4c each to fund its upcoming drilling campaign in the revered Montney oil and gas play in Canada. The placement was corner-stoned by Australian boutique fund manager Tribeca Investment Partners, who has also agreed to arrange a project development finance facility of up to $40m.

Subiaco-based oil and gas junior Calima Energy has raised $25 million through a placement, and aims to pick up a further $40 million through debt to underpin a drilling campaign at its Canadian exploration tenements.

Calima Energy's review of horizontal drilling in the Canadian Montney oil and gas formation has left it confident that its planned wells will match the best practice of other successful operators in the region. The company plans to kick off drilling in December with one vertical well before drilling two horizontal wells that will be fracture stimulated and then production tested for 4-6 weeks.

Calima Energy now has 100% of its lucrative 72,000 acres of oil and gas ground in the revered Montney formation in Canada. The company recently announced the acquisition of its joint venture partners in the project, TSV Montney and TMK Montney. The move is expected to attract greater market interest, provide improved access to capital and remove any risks relating to partner funding of development costs.

Calima Energy says that it will benefit from more than $70b worth of proposed gas pipeline and supporting infrastructure projects that are either at an advanced stage of planning or currently underway in the revered Montney oil and gas formation in Canada. Calima will start drilling its 72,000 acres of land in the Montney this year.

Calima Energy's uncanny ability to sniff out interesting looking projects in the oil and gas space has once again been demonstrated, with the company picking up a big exploration block in an emerging off shore oil basin in Namibia. The securing of the new block follows a surge in investment by the likes of Exxon and Total in the region, which will see a number of wells drilled on adjacent permits.

In what looks to be an astute move, Calima Energy is set to race from 20% to outright ownership of its coveted Montney shale liquid/gas project in Canada through friendly, all-scrip takeover bids for its joint venture partners. The Perth-based junior has secured board recommendations and pre-bid acceptances from several major shareholders in a deal that will bulk up its profile in the revered oil and gas basin

A big oil and gas liquids discovery near Calima Energy's acreage in the Montney Basin has added yet more backing for the company's early move into one of the hottest shale basins in North America. The nearby discovery tested at more than 2,000 barrels of oil equivalent per day and was rich in highly prized condensate and other natural gas liquids. Calima's move into the area is starting to look smart.

Calima Energy reports that ConocoPhillips has increased its land holding by 32% near its liquids-rich, Montney oil & gas play in Canada. The purchase of 35,000 acres for CAD$154M, which is above recent transaction metrics, shows that interest and the latent value in the region is increasing. Calima is ahead of its exploration schedule in the Montney with approvals in place to drill three wells in late 2018 .

Emerging Western Australian nickel company St George Mining is pleased to announce it has successfully raised $4.0 million from institutional and sophisticated investors via a placement at an issue

Canadian independent geological consulting firm McDaniel and Associates has given Calima Energy's coveted Montney Formation acreage in British Columbia a confidence-boosting review with estimates of 2.1Tcf of recoverable gas and 114million barrels of liquids. This verdict has reinforced Perth-based Calima's conviction that it has a standalone project in the making as it prepares for a drilling campaign.

High Grade Metals is pleased to announce that on 26 February 2018 it completed the acquisition of the issued capital of Austrian Projects Corporation Pty Ltd (ACN 622 432 428).

Calima Energy hasn't taken any chances locking down the first 20% of its farm in package ahead of time in the lucrative Montney oil and gas formation in British Columbia, Canada. The Perth-based company is planning to spud a three well drilling campaign in November to flow test the liquids-rich Upper and Lower Montney. Ultimately Calima will end up with 55% of the project for an expenditure of C$20m.

Calima Energy has announced a major boost to its maiden drilling campaign in the Montney Formation which is on target to spud later this year. The company has shrewdly appointed a local land solutions company that guided adjoining leaseholder Saguaro to success. Saguaro already have over 30 operating wells on Calima's doorstep and are planning another 30.

Calima Energy has received an all-important permit from British Columbia authorities to build the road it hopes will lead to riches by unlocking liquids-rich hydrocarbons at its Canadian Montney Formation play. The company is shifting from acquisition phase to operational mode and will construct the road to give drill rigs and personnel access into one of the most lucrative plays in North America.