Columbus Energy Resources PLC (LON:CERP), the oil and gas producer and explorer with operations in Trinidad and Suriname, confirmed on Tuesday the spud of the Saffron prospect having received Ministry approval for the drilling of the prospect which is in the South West Peninsula, Trinidad.
In a brief statement, the company said it expects to advance to drilling with the 8½ inch pilot hole in the next few days.
The firm added that it expects the well will take approximately 30-45 days to complete and evaluate and said it will update the market when appropriate.
Leo Koot, Columbus Energy’s executive chairman commented: "The Company is pleased to receive Ministry consent for the Saffron well and, as mentioned at the AGM, I will be actively involved at the rig-site during the critical phases of the well campaign.
“This has been the culmination of many years of commercial structuring, technical work, planning, and, more recently, site preparation activities. We will update the market as drilling activities on Saffron progress."