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Columbus Energy 'well capitalised' as it continues to build portfolio in Trinidad

Leo Koot, executive chairman of Columbus Energy Resources PLC (LON:CERP), discusses with Proactive's Andrew Scott their recent acquisition of Steeldrum for £4.4mln in shares.

Steeldrum is currently producing at a rate of 200-250 barrels of oil daily and has reserves of 5.6mln barrels at the Innis-Trinity and South Erin fields and 1.1mln within the Cory Moruga development project.

Koot also discusses some of the challenges they've faced around increasing production at the Goudron field but says he's confident of achieving their full year production target.

Quick facts: Columbus Energy Resources PLC

Price: 4.1 GBX

AIM:CERP
Market: AIM
Market Cap: £34.15 m
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