CALIMA ENERGY LIMITED (ASX:CE1) - CALIMA ENERGY - Positive Outlook, 70570032, page-76 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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Quest09

832 Posts.

115

27/10/23

10:06

Post #: 70570032
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Originally posted by Quest09: ↑

IMO newly drilled well, Pisces10, is potentially producing ~430 to 500 barrels per day.
So aiming to estimate the production rate of the recently drilled Pisces10 well.

According to recent announcement Pisces10 is producing "in-line with Pisces #6 and #7", which is considered "significantly above the typical production curve".

Another previous announcement describes the production rates of Pisces #6 and #7. P6 & 7 achieved an average of 505 barrels per day over the first 30 days production and an average of 432 barrels a day over the first 90 days of production.

Hence we can estimate that Pisces10 is currently producing around 500 barrels per day.

If correct, that would be a great result which is significantly above typical glauconitic production curves.

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Originally posted by Quest09: ↑

If my estimate is correct, and Pisces10 is producing ~500 barrels per day, then that could be an overall oil production capacity increase of ~10% to ~15% (current production is about 3600 to 4000 barrels per day). That's a significant increase in production capacity.!

The interesting thing is that CE1 have just finished drilling another two wells (Pisces11 & Pisces12).!

If those two wells have similar production rates as Pisces10, then CE1 oil production capacity could have an increase of production capacity in the range of 30% to 45% by December.

Now that really is a significant increase in production capacity.!

PS. thanks for the compliment GARP, i'll take it . Oh, and feel free to jump onboard the positive outlook train. IMO, it's going to be a fun ride .

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Originally posted by Quest09: ↑

Auctus Advisors have conducted analyst research on CE1, and while we don't have access to their underlying calculations, we do know what target price they arrived at as a result of their research.

Auctus Advisors Target Price: A$0.45c per share.

Current Share Price: A$0.09c per share.

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Originally posted by Quest09: ↑

USA begins the process of buying up big amounts of oil, as the USA Strategic Petroleum Reserve (SPR) sits at its lowest point since the early 1980s.

The trend in rising oil prices could just be beginning.

USA Strategic Petroleum Reserve At Lowest Point Since the 1980s

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IMO, today could be the last day of trading before we receive the quarterly report.

Im think the report will be released on Monday morning.

Looking forward to it. Its going to be very positive IMO. Maybe even deserving of a share price rerate.

=)

Originally posted by Quest09: ↑

=)

New drilling campaign to begin in January 2024.?

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Originally posted by Quest09: ↑

A Couple of Articles on CE1's Current Position
Link to Article: https://colitco.com/calima-energy-marks-successful-completion-of-3-well-pisces-drilling-program-a-promising-path-for-investors-in-the-energy-sector/

Link to Article: https://colitco.com/calima-energy-limiteds-chairman-unveils-promising-developments-in-brooks-assets/

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CE1 Price at posting: 9.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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