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Ministry approval to drill Saffron Prospect

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RNS Number : 0400O
Columbus Energy Resources PLC
30 September 2019
 

30 September 2019

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Ministry approval to drill Saffron prospect - Mobilisation of Rig to Site

Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to provide further information on its planned drilling campaign in the South West Peninsula, Trinidad. 

The Ministry of Energy and Energy Industries has granted approval for the drilling of the Saffron well, in the South West Peninsula ("SWP"). 

The Company is preparing for the spudding of the Saffron prospect, with the mobilisation of the rig and associated equipment currently in process.

Leo Koot, Executive Chairman of Columbus, commented:

"The Company is pleased to have received Ministry approval to drill the Saffron prospect.  The Company is currently mobilising the rig and associated equipment to the drilling site. We will update the market as drilling activities progress."

 

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Qualified Person's statement:

The information contained in this document has been reviewed and approved by Stewart Ahmed, Chief Technical Officer (Trinidad), for Columbus Energy Resources plc. Mr Ahmed has a BSc in Mining and Petroleum Engineering and is a member of the Society of Petroleum Engineers. Mr Ahmed has over 33 years of relevant experience in the oil industry.

Contact Information

Columbus Energy Resources plc

Leo Koot / Gordon Stein

+44 (0)20 7203 2039

VSA Capital Limited

Financial Adviser and Broker

Andrew Monk / Andrew Raca

+44 (0)20 3005 5000

Beaumont Cornish Limited

Nominated Adviser

Roland Cornish / Rosalind Hill Abrahams

+44 (0)20 7628 3396

Celicourt Communications

Public and Investor Relations

Mark Antelme / Jimmy Lea

 

 

+44 (0) 20 8434 2643

Notes to Editors:

Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America. The Columbus Energy group has five producing fields, an appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. Columbus is cashflow positive and aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner.

Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible.

The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business. 

To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Columbus Energy Resources PLC

Price: 4.1

Market: AIM
Market Cap: £34.15 m
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