Brief: Calima Energy Announces Leo Program Production Update

Calima Energy

05/01/2022 05:17

Jan 5 (Reuters) - Calima Energy Ltd  CE1.AX :
    * DURING THIRD WEEK OF DEC, PRODUCTION LEVELS EXCEEDED 3,800
BOE/D
AT THE 3 LEO WELLS
    * ON DEC 23, LEO 3 ENCOUNTERED DOWNTIME EVENT REQUIRING A
WELL
INTERVENTION WHICH COULD NOT BE RESOLVED UNTIL 3 JAN
    * ONCE LOAD IS FULLY RECOVERED, LEO 1 EXPECTED TO RESULT IN
PEAK
PRODUCTION OF 450-550 BOE/D
    * LEO 2 EXPECTED TO PRODUCE AT STABILIZED OIL CUT OF 55%,
EXPECTED
TO RESULT IN PEAK PRODUCTION OF 450-550 BOE/D AFTER FULL
RECOVERY LOAD
    * LOAD RECOVERY FOR LEO 1 IS ESTIMATED TO TAKE 90 DAYS
    * LEO 3 EXPECTED TO PRODUCE AT STABILIZED OIL CUT OF 75%,
EXPECTED
TO RESULT IN PEAK PRODUCTION OF 500-600 BOE/D AFTER FULL LOAD
RECOVERY
    * LOAD RECOVERY FOR LEO 3 IS ESTIMATED TO TAKE 120 DAYS

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