Calima Energy hits 2-month high on completing Alberta drilling programme
11/01/2022 03:55
** Shares of the Australian oil and gas explorer CE1.AX
rise as much as 4.6% to A$0.23, their highest since Nov. 9
** Co says its third greensand mineralisation well, Pisces
#3, in Alberta, Canada was spudded and released by rig to drill
a depth of ~2,600 meters urn:newsml:reuters.com:*:nASX52ZqkS
** Says Pisces #3 is planned to be fracture stimulated in
February 2022, adding oil and gas shows have been as predicted
** Adds it will take 7-10 days to see any traces of
hydrocarbon once production commences; each well is expected to
be producing at full potential by late Feb or early March 2022
** CE1 gained 31.3% in 2021
(Reporting by Roushni Nair in Bengluru)
((Roushni.Nair@thomsonreuters.com;))