CALIMA ENERGY (ASX: CE1) is a leading Canadian oil and gas production and exploration company. Calima has successfully achieved several milestones throughout its oil and gas exploration programs. One of the most applaudable breakthroughs in its journey is its revolutionising collaboration with Blackspur Oil in 2021, which turned the COMPANY into a high-margin oil and gas producer leveraged to WTI pricing.
CALIMA ENERGY has launched and accomplished many exploration projects, the most recent one being the retesting work program in Montney. Colitco is honoured to capture the thoughts and vision of Calima Energy Chairman GLENN WHIDDON, a nonpareil expert in the oil and gas exploration domain.
Q. Thank you for making time to speak with us, Mr Whiddon. The recent announcement of the Montney retesting program has undoubtedly come as a surprise for all the major players in the industry. The original test was conducted in 2019, we believe. Since how long has the retesting been on the cards?
“Well, Montney is known for its super liquids-rich window in British Columbia. The Montney Formation of Alberta and British Columbia has been the unbeatable target of oil and gas exploration since the 1950s. We were confident about the region’s innate potential, and any subpar results, like the ones in 2019, couldn’t make us believe otherwise. The retesting program has been in the pipeline since then.
Q. Exceptional! Would you like to shed some light on the challenges faced by the Company during the testing of Calima #2 and #3 wells in 2019?
“We faced non-conducive weather challenges as it was the time of early spring breakup or snow melt as we usually say. Due to such circumstances, we had to cut short the production testing of the two horizontal wells. We also had to demobilise the hefty equipment, which led to ineffective results reflecting considerably low condensate rates. But this time, we certainly have a foolproof strategy for a permanent access road to the main highway, and we’re hoping that it moves as expected.
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