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Latest Calima Energy Stock News | OTC:CLMEF | Benzinga

Calima Energy Ltd is an oil and gas company. The company and its subsidiaries invest in oil and gas exploration and production projects. The company primarily focuses on finding and developing new projects. Its projects include Brooks, Thorsby, and Montney. It also holds an undeveloped Montney acreage position in northeastern British Columbia, Canada.

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CLMEF: An Energy Company with an Enticing Yield

CALIMA ENERGY LTD NEW by Calima Energy Ltd.

Calima Energy Ltd

Calima Energy

By <a href="https://scr.zacks.com/analyst-bios/person-details/default.aspx?ItemId=c9477f93-8bd2-4293-9461-8d809f2a916c">Brad Sorensen, CFA</a>

<stock_ticker>OTC:CLMEF</stock_ticker>

Calima Energy (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLMEF#OTC">CLMEF</a>) announced that the company's Q2/Q3 drilling program was completed successfully and within budget—bring five new wells into production. This announcement bolsters our confidence in the ability of Calima to continue to return cash to shareholders. At the recent price of Calima at around $0.10 per share, the stock is currently yielding a robust 8%+, while also conducting a share buyback program. With solid and growing energy resources and a solid management team that has proven itself to be able to handle the volatile energy market with skill, having the opportunity to invest in a stock that has a yield of over 8% is worth a look, especially in the current uncertain market environment. 

Details of the Drilling Program

Calima Energy announced that the four well drilling campaign in its Brooks formation were successfully completed. The first, known as Pisces #4 is a follow up to one the company's most productive wells and early results show the well meeting expectations. Pisces #5 is also a follow-up well that has produced 86,000 barrels of oil and 0.8 bcf of gas since 2014 and the company expect the new well to outperform the old one based on initial production data. 

Wells three and four, known as Gemini #8 and #9, targeted the Sunburst Formation in two known pools. Production thus far from these wells is slightly below the Sunburst type curve but overall production from the Gemini program continues to be above type curve—confirming the productive characteristics of the wells in the Sunburst formation. 

The well known as Leo #4 was drilled in the Sparky Formation and management notes that production-to-date has been encouraging in this new area but firm information on the capabilities of the well are yet to be realized as the company continues to optimize the pumping parameters of the well. 

 <img src="//s27.q4cdn.com/906368049/files/pictures/2022/09092022_CLMEF_1.png" style="width: 550px;" />

Further details for these projects can be found at the company's website (<a href="https://app.sharelinktechnologies.com/announcement/asx/2fb2ef92aecd4a7c40068d5a4ffafcd4">https://app.sharelinktechnologies.com/announcement/asx/2fb2ef92aecd4a7c40068d5a4ffafcd4</a>).

We continue to believe that Calima Energy is underpriced and encourage investors looking for cash flow from a company with solid energy assets whose productivity is growing to consider CLMEF.

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Latest Calima Energy Stock News | OTC:CLMEF | Benzinga

Wednesday, September 14, 2022

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