- Coelacanth Energy (CEI) recently released its latest financial and operating results
- The Calgary-based energy company’s third-quarter results include proceeds of $6.8 million
- The company’s management continues to plan for the development of its major projects at Two Rivers East and West in British Columbia
- Development entails materially expanding the infrastructure and preparing for pad development
- President & CEO Rob Zakresky sat down with Daniella Atkinson to discuss the results
- Coelacanth Energy (CEI) opened trading at C$0.85
Coelacanth Energy (CEI) recently released its latest financial and operating results.
The Calgary-based energy company’s third-quarter results include proceeds of $6.8 million. That figure is from the exercising of 25.4 Arrangement Warrants.
The company’s management continues to plan for the development of its major projects at Two Rivers East and West in British Columbia. Development entails materially expanding the infrastructure and preparing for pad development.
Two drilling licenses have been received at the Two Rivers Project, and Coelacanth will drill and case those wells. At the same time, it awaits approvals for an additional three licenses to be approved for an additional drill pad.
Once the additional locations are approved on that pad, the company intends to drill the remaining wells and complete all four wells. Production will commence through its current facility shortly thereafter.
Engineering and design are largely complete for the construction of a battery and gas handling facility to handle anticipated future pad developments. Gas sales and emulsion gathering lines are currently being surveyed so they can be installed on an expedited basis after drilling the first pad. The proposed pad has been submitted for licensing, and Coelacanth is awaiting approval.
President & CEO Rob Zakresky sat down with Daniella Atkinson to discuss the results.
Coelacanth Energy is a Montney-focused oil and natural gas exploration and development company with lands located in the Two Rivers area of northeastern British Columbia.
Coelacanth Energy Inc. (CEI) opened trading at $0.85.
