Calima’s Thorsby project, located north of Brooks. Source: Calima Energy
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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.

CE1 by the numbers
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