Calima Energy Limited (ASX:CE1)
Calima Energy Limited (ASX:CE1) is a free cash flow-generating, growth-focussed Canadian oil and gas producer and explorer.
Calima completed a transformational merger with Blackspur Oil during 2021 and successfully transformed into a high margin oil and gas producer leveraged to WTI pricing plus exposure to rising natural gas prices via its strategic holdings in the Montney Formation.
Calima is a returns-focused growth producer with top tier assets, positive cash flow and a strong focus on ESG. Calimas assets in Alberta (Brooks and Thorsby) are a de-risked asset base with existing wells and booked reserves with extensive 3D seismic.
The Brooks and Thorsby assets are low-cost, cash flowing assets with long-term upside. Calima plans to continue development drilling on these assets to further increase production. The Company has planned by Year End 2022, that the Brooks and Thorsby assets will grow production to 5,500 boe/d.
Calimas strategy involves executing strategic acquisitions of adjoining tenements to further increase production.