
Recent Updates on Calima Energy Projects

Gemini Sunburst Program: a 3-Well Program
Gemini #10 (50% WI)
On 5 October 2022, Gemini #10 (50% WI) has been completely drilled and is expected to commence production in November. The well was drilled from the same pad as Gemini #3 and #9 and will link to the Calima’s 50% owned 15-23 Oil battery at South Brooks Field. One of the crucial factors to note is that the well is designed to boost hydrocarbon recovery in a known Sunburst Formation pool developed by vertical wells.Gemini #11 and Gemini #12
Gemini #11 and #12 (100% WI) will consecutively occur following the highly successful vertical well (Gemini #5), which was drilled in the first quarter of 2022 and evaluated the feasibility of the Sunburst Formation. These wells will significantly reduce costs as they will be on‐lease tie‐ins. The wells are to be drilled from the exact drilling pad as Gemini #5 and #8. Furthermore, these wells will leverage the recently developed pipeline installed in Q1, with the fluids flowing directly to our 2‐29 oil battery. These wells are created to grasp the unexploited reserves discovered from 3D seismic, apart from the geological data garnered from the drilling of Gemini #5 and #8.Sunburst Wells
Sunburst wells are conventional wells operating without fracture simulations. However, depending upon the type‐curve results at current commodity prices, these wells are expected to pay out within 12 months.2 Well Pisces Program
Pisces #6 & #7 (100% WI) are horizontal wells, they are a follow‐up to the existing Glauconitic Formation horizontal well (Pisces #4) – drilled at the start of 2022. The wells will be completed as horizontal multiphase fracture stimulated wells and tied into the 2‐29 oil battery during Q4 2022 through an on‐lease tie‐in, with a rated production output expected in Q1 2023.Waterflood Expansion J2J Pool
There is a great spur in production owing to water injection into the field. The action was considered a strategy for secondary Enhanced Oil Recovery (EOR). The second quarter witnessed the transformation of standing well into a water injector. Moreover, field pressures and cumulative voidage replacement continue to rise, enabling the energy Company to achieve a quick voidage replacement ratio greater than 1. Calima Energy also oversees the performance with planned capital, comprising additional water sources, injectors, and new producers.Montney Assets
Calima Energy is strengthening its efforts to derive maximum value from its Montney assets amid geopolitical developments such as the continuing surge in commodity prices, increasing demand for LNG exports from N.America and partial completion of the LNG Canada facility.Additionally, the company is strategising to have a mild winter program for 2022-2023 to facilitate the de-risk development on the site for potential growth in the following seasons through a joint venture. With a target of Q1 2025 the company has been in discussion with multiple potential partners, however, the deal is yet to be closed.The CEO And President Jordan Kevol

The Impeccable Growth Potential for Calima Energy Investors
Calima Energy Limited has exponentially widened its production base from 2,900 to over 4,000 boe/d, which is more than 40% in a relatively short span of the past 12 months. The company affirms that following Q3 production averaging above 4,162 boe/d, its action plan has yielded positive results.
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