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Update on Saffron Well

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RNS Number : 5504P
Columbus Energy Resources PLC
11 October 2019
 

11 October 2019

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Update on Saffron well - Rig ready to commence drilling operations

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, provides the following update about the Saffron well in the South West Peninsula, Trinidad.

The drilling rig to be used for drilling the Saffron well (Talon #38) is now on location and ready to commence drilling operations.  The drilling operations will commence in the next few days following official Ministry inspection and approval.

Leo Koot, Executive Chairman of Columbus, commented:

"The Company is pleased that the rig is on site and we are ready to commence drilling operations in the next few days.  The Company notes that its preferential access to the Talon #38 rig means there is no material cost whilst waiting for the drilling operations to commence."  

 

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

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 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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Price: 3.35

Market: AIM
Market Cap: £28.11 m
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