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Calima gets Canadian shale boost

Australian junior books increase in prospective resources at Montney play

Australia-listed Calima Energy has booked an increase to the estimated resources at its acreage in the onshore Montney shale play in British Columbia, Canada.

A report by McDaniel & Associates revised the best estimate gross un-risked prospective resource of the acreage to 497.3 million barrels of oil equivalent, with the addition a best estimate gross un-risked contingent resource of 196.1 million boe.

Calima managing director Alan Stein said the numbers represented “a significant uplift” on the 475.8 million boe prospective resource estimate previously given by the company.

“The inclusion of 2C contingent resources and the uplift in estimated ultimate recovery per well to 8.4 Bcf is directly related to the excellent results from our drilling campaign earlier this year,” he added.

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“As we progress with our commercial negotiations regarding access to pipeline and processing infrastructure, we would expect to convert some of our contingent resources into reserves during 2H 2019.”

Calima’s acreage position in British Columbia covers s 72,014 acres and comprises 105 drilling sections.

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