Calima is a public company listed on the ASX (ASX:CE1). The principal activity of Calima is investing in oil and gas exploration and production projects internationally.
The Company owns a 100% interest in more than 60,000 acres of drilling and production rights in the Montney Formation in British Columbia, Canada. The Montney Formation is one of the top ranked resource plays in North America.
After drilling three wells early in 2019 which successfully flowed gas and light oil rates which compare favorably to established Operators nearby the Company is now focused on plans to put in place all the building blocks of a Field Development Plan to bring the acreage into production.
As part of the transaction with Havoc, Calima acquired interests in petroleum permits in the Saharawi Arab Democratic Republic (Western Sahara) and a passive, minority interest in Bahari Holding Company Limited.