Calima Energy: Achieves highest-ever quarterly revenue

Calima Energy Achieves highest-ever quarterly revenue

• Calima Energy (CE1) reports another “successful and strongly profitable quarter” for the three months ending June 30
• The oil and gas play reports $37 million in revenue, a 19.6 per cent quarter-on-quarter increase and its highest-ever quarterly revenue result
• While average daily production was impacted by unseasonal rain and sand clean outs, CE1 believes recent drilling at its Canadian operations will support higher production in the Q3
• Following drilling, two Gemini wells were placed on production earlier this month, with the Pisces wells to be in production by mid-August and the Leo #4 well is undergoing testing
• Company shares are down 12.5 per cent to trade at 14 cents at 1:38 pm AEST