logo-loader
Columbus Energy Resources PLC

Columbus Energy looks forward to start of Inniss-Trinity enhanced recovery pilot

"The company looks forward to working with Heritage and Predator to advance the CO₂ pilot project,” said Leo Koot, Columbus chief executive

oil and gas operations
Columbus could exit the project with US$4.2mln if the pilot is a success

Columbus Energy Resources PLC (LON:CERP) told investors that it is expecting a second-quarter start to gas injections for the pilot project with Predator Oil & Gas and Heritage Petroleum at the Inniss-Trinity IPSC area.

The pilot project aims to inject carbon dioxide into wells as part of an enhanced oil recovery project.

WATCH: 'It's the year we've been waiting for' says Columbus Energy's Leo Koot

Existing agreements enable Predator to acquire the AIM-quoted company’s FRAM Exploration subsidiary, which holds the interest in the Inniss-Trinity, for US$4.2mln. Predator is funding the pilot project.

"The company looks forward to working with Heritage and Predator to advance the CO₂ pilot project,” said Leo Koot, Columbus chief executive.

“We believe the CO₂ pilot project on Inniss-Trinity will give all parties a valuable insight into an alternative enhanced oil recovery mechanism for Trinidad and has the potential to transform oil & gas operations in the Inniss-Trinity field and in similar fields in Trinidad."

Quick facts: Columbus Energy Resources PLC

Price: £0.05

Market: AIM
Market Cap: £37.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Columbus Energy Resources PLC named herein, including the promotion by the Company of Columbus Energy Resources PLC in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Columbus Energy's Koot details upcoming drill programme and significant new deal

Leo Koot, chief executive of Columbus Energy Resources PLC (LON:CERP), talks Proactive London's Andrew Scott through the plans for an upcoming drill campaign on the South West Peninsula as well as touches on some of the early detail around an 'exclusive M&A deal' which he's currently...

on 17/4/19

RNS

Issue of Equity

2 days, 20 hours ago

Update on Inniss-Trinity IPSC

1 week, 4 days ago

Half-year Report

1 week, 5 days ago

Update on Innis-Trinity IPSC

3 weeks, 4 days ago

Result of AGM

on 27/6/19

2 min read