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Lindsay Dudfield, Executive Director and CEO of Jindalee Resources Limited, Executed MOU with POSCO Holdings For Joint Research At McDermitt Lithium Project

JINDALEE RESOURCES LIMITED  (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potentially
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Calima Energy and CEO Jordan Kevol Uncover Latest Updates About Drilling Operations

CALIMA ENERGY (ASX: CE1) declares the completion of Pisces #6 and #7 drilling programs. Currently, the two wells are undergoing the process of “clean up” and are producing back the frac fluid introduced into the reservoir as part of the accomplishment. They are also producing hydrocarbons at strong rates. CALIMA ENERGY AND CEO JORDAN KEVOL also promulgate the commencement of the Pisces #8 and #9 drilling program, with the former being spud on 6 January at Brooks Alberta. The latest CALIMA ENERGY share price is AUD 0.140.

Calima Energy and CEO Jordan Kevol estimate that Pisces #6 and #7 will complete the clean-up process and start producing at significantly high rates within 30 days of initial production. The recently drilled Sunburst wells (2.5 NET), namely Gemini #10, #11, and #12, are all in production. The three wells presently produce nearly 420 boe/d (gross) and 370 boe/d (net). Additionally, the Q4 Gemini program has achieved almost 35% higher production than budgeted type curves during the initial 30-day period.

Through the first week of January, the production has reflected a marked increase of more than 4,500 boe/d with the new wells. Calima also observes the new wells as they undergo the clean-up closely.

Calima Energy and CEO Jordan Kevol declare the initiation of the drilling Pisces #8 and #9 (100%WI) for Q1-23 at Brooks. Both the horizontal Glauconitic formation wells will be drilled off the same pad, offering savings and efficiencies on drilling, fracture completion, and gas tie-in infrastructure. The drilling project for each well is estimated to take approximately ten days, followed by the commencement of the completion operations.

Furthermore, both wells are projected to have a 2,750M long horizontal section, commensurate with Pisces #2, the longest Glauconitic well drilled by CALIMA ENERGY. While both wells are anticipated to be completed and ready for production testing in late February, their total depth will be determined by several elements, such as reservoir conditions, geology, and directional drilling factors. The high-level expectations of more excellent production and reserve for both wells are because they are 15% longer with 60% more fracs than the 12-23 well.

The CALIMA ENERGY SENIOR MANAGEMENT comprises highly knowledgeable and profoundly experienced mining industry experts who are well-known for creating a high shareholder value.

Following is the comment by Calima Energy CEO JORDAN KEVOL concerning the latest developments in the CALIMA ENERGY PROJECTS.

“Drilling continues at Brooks. After a drilling break in December to get Pisces #6 and #7 completed and tied in, we have brought the rig back to drill another two Pisces Glauconitic wells. These wells are being drilled into a known Glauconitic pool which was proven in 2020. We are excited to be drilling these two follow-up wells with a more intensive fracture completion compared to the 2020 well in the same pool. The production from our successful Q4 Gemini campaign, coupled with Pisces 6 & 7 now on production and cleaning up, has increased corporate production rates to a current peak of 4,500 BOE/D, above budgeted rates for January. The drilling of Pisces 8 and 9 will further contribute to production rates in late Q1 and into Q2. Plans are in the works for more wells to be drilled in Brooks and Thorsby for late Q2 and Q3 2023.”

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