Calima to exit Namibia

CALIMA Energy, which has been focussed on its Montney exploration work in Canada, announced today it will sell off its offshore Namibia block PEL90 for US$2 million to Tullow plus successes bonuses totalling $10 million that will let the junior retain upside in the project while reducing its cost exposure.

Calima to exit Namibia Calima to exit Namibia Calima to exit Namibia Calima to exit Namibia Calima to exit Namibia

Canada-focussed junior sells share in block to local Africa heavyweight Tullow for $2M