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.
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."