logo-loader
viewColumbus Energy Resources PLC

Columbus Energy aims to agree Goudron production service contract by March

An extension has been agreed until 31 March 2020 for talks with state-owned Heritage Petroleum

Columbus Energy Resources PLC -
Oil production vessels offshore Trinidad

Columbus Energy Resources PLC (LON:CERP) is continuing talks with about extending the incremental production service contract (IPSC) for Trinidad’s Goudron oilfield.

With the contract due to run out at the end of the month, an extension has been agreed until 31 March 2020 for Columbus and state-owned Heritage Petroleum to negotiate a longer term extension

“Similar to the Inniss-Trinity IPSC, for which an extension and modification was recently granted, the company looks forward to working with Heritage to agree a mutually beneficial work programme and fiscal regime for the Goudron IPSC so that we can continue to produce from Goudron for many years to come,” said Leo Koot, Columbus Energy’s executive chairman.

“This will need to be for the benefit of both Columbus and Heritage, taking account of the Trinidad regulatory and taxation environment affecting IPSC's such as Goudron. 

“We will update the market as soon as the longer term extension is agreed."

Quick facts: Columbus Energy Resources PLC

Price: 3 GBX

AIM:CERP
Market: AIM
Market Cap: £25.4 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

Investor Update: Zoetic reports 'significant' first half as CBD shift continues

Headlines from the Proactive UK newsroom. Zoetic International plc (LON:ZOE) reported higher revenues in its first half as the company continued its pivot towards the cannabidiol (CBD) markets. In a trading update the firm posted revenues of £1.15mln in the six months to the end of September,...

on 4/10/19

2 min read