Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, provides the following update about the Inniss-Trinity Incremental Production Service Contract ("Inniss-Trinity IPSC").
Update on CO₂ pilot project
Further to the Company's announcement on 5 September 2019, work is continuing with Predator Oil & Gas Holdings Limited ("Predator") to advance the CO₂ pilot project on the Inniss-Trinity IPSC.
Columbus and Predator have recently finalised and formally submitted an updated CO₂ Injection Pilot proposal to Heritage for approval, civil works are planned for completion in December 2019 and Predator has ordered a number of long lead items to begin the CO₂ Injection Pilot by January 2020. Initial results from the pilot would be expected in Q1 2020.
Leo Koot, Executive Chairman of Columbus, commented:
"Columbus and Predator continue to advance the CO₂ pilot project. We look forward to completing the civil works necessary for CO₂ injection in December 2019 and injection in early January 2020."
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.
Columbus Energy Resources plc
Leo Koot / Gordon Stein
+44 (0)20 7203 2039
VSA Capital Limited
Financial Adviser andBroker
Andrew Monk / Andrew Raca
+44 (0)20 3005 5000
Beaumont Cornish Limited
Roland Cornish / Rosalind Hill Abrahams
+44 (0)20 7628 3396
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 and Suriname. The Columbus Energy group has five producing fields, two appraisal/development projects 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 operationally 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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