Calima Energy: Shares rise on early Montney flow test results

Calima Energy Shares rise on early Montney flow test results

• Calima Energy (CE1) reports “strong” gas flows and liquid yields from early flow tests of its Calima 2 and Calima 3 wells within its Montney project in Canada
• The company says the initial test results from the wells exceeded its expectations compared to a 2019 testing program
• The combined peak flow rate of both wells was over 11.5 million cubic feet per day, and CE1 produced more than 3500 bbls of condensate during testing
• The flow testing is expected to continue for the next three to ten days, after which point the wells will be shut down to gather downhole pressure build-up data
• Shares in CalimaEnergy are up 3.7 per cent, trading at 14 cents at 2:55 pm AEDT