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- Calima Energy (CE1) adds a high impact unconventional oil well, Leo #4, to its drilling program at the Greater Thorsby Area at North Thorsby in Canada
- Leo #4 is an oil well at North Thorsby and spudded last week and is prospective for the development of multiple sparky age oil-bearing channel sands
- The aim of the well is to successfully expand the greater Thorsby area
- CE1 finished the day of trading at 23 cents, down 2.23 per cent
Calima Energy (CE1) has added a high impact unconventional oil well, Leo #4, to its drilling program at the Greater Thorsby Area at North Thorsby in Canada.
Leo #4 is an oil well at North Thorsby and spudded last week and is prospective for the development of multiple sparky age oil-bearing channel sands.
The aim of the well is to successfully expand the greater Thorsby area, providing cash flow generation and reserves growth.
The well will test a thick channel for productivity and is the first step in starting to
develop the Sparky and expand the greater Thorsby fairway.
Calima holds a 50 per cent working interest in Leo#4 and is the operator of the well.
The company plans to frac and tie-in the well in late second quarter or third quarter of 2022, pending spring break-up conditions.
“The commencement of the January 2022 drilling campaign reflects a strong start to the year for the company with the drilling of Leo #4,” CEO and President Jordan Kevol said.
“North Thorsby is a new development area for the company and Leo #4’s level of success will potentially open up additional reserves to book and subsequently develop.”
CE1 finished the day of trading at 23 cents, down 2.23 per cent.
