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Columbus Energy inks temporary extension for Goudron service contract

The field services contract extends initially to this Friday, April 3

Columbus Energy Resources PLC - Columbus Energy inks temporary extension for Goudron service contract

Columbus Energy Resources PLC (LON:CERP) has agreed a short-term extension to its oil field service contract at the Goudron field, to allow more time to finalise a longer-term arrangement.

The Trinidad based oiler, in a statement, told investors that the Goudron Incremental Production Service Contract (IPSC) with Heritage Petroleum Company was due to expire at the end of today.

But it has now inked a temporary extension, giving the companies until this Friday, April 3, to put the longer-term agreement in place.

READ: Columbus to give Saffron well results as testing progresses

"We are in the process of negotiating and agreeing with Heritage the terms and conditions for a long-term extension of the Goudron IPSC,” said Leo Koot, Columbus chief executive.

“We expect these negotiations to be complete shortly. We are pleased with the progress we are making, and we will update the market when the agreements are finalised."

Quick facts: Columbus Energy Resources PLC

Price: 2 GBX

AIM:CERP
Market: AIM
Market Cap: £18.36 m
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