The drill rig and associated equipment for the project has now been mobilised, the company said.
It will mark the start of exploration in the high potential South West Peninsular’ project area.
“We will update the market as drilling activities progress," said executive chair Leo Koot.
Last week, Columbus upgraded its estimates for Saffron with oil-in-place numbers for the Lower Cruse target upgraded to 77mln barrels, from 66mln, and, the estimate for potentially recoverable resources rises to 11.5mln barrels from 10mln.
Columbus noted that the update sees the pre-drill valuation of the well increase to US$88mln, from US$79mln.
It also noted that the upgraded view of the well’s prospectivity was validated by independent consultancy EPI Group.