As many as 14 multistage fracture stimulations are planned for the well, which the company has a 30% working interest in.
The company has made an offer to purchase the minority interests in its subsidiary company, Dublin Resources (Dublin), and has purchased 717,141 shares of Dublin for cash consideration of $72,216. Kallisto currently owns 86.1% of the shares of Dublin and anticipates that it will acquire additional shares in the coming weeks.
Should the company acquire more than 90% of the shares of Dublin, it will seek to acquire the remaining shares by way of compulsory acquisition, an amalgamation, arrangement or other transaction, the company said.
Kallisto is a Calgary-based resource company engaged in the exploration, development and production of oil and natural gas in Alberta.
