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Columbus Energy inks further extension to Heritage Petroleum contract for Goudron field

It now has until the end of June to agree terms for a longer-term contract

Columbus Energy Resources PLC - Columbus Energy inks further extension to Heritage Petroleum contract for Goudron field

Columbus Energy Resources PLC (LON:CERP) has announced a further interim extension to the Goudron incremental production service contract (IPSC) with Heritage Petroleum, moving the deadline out to June 30, 2020.

The prior deadline was April 3, and, now the companies have more time to finalise agreements for a longer-term extension.

READ: Columbus Energy eyes next gas injection at Innis-Trinity

"We are in the final stages of our negotiations with Heritage to agree the terms and conditions for a long term extension of the Goudron IPSC,” Leo Koot, Columbus Energy chairman in a statement.

“We are pleased that we have an extension until June 2020 so that we can finalise the negotiations in an orderly fashion.  We will update the market when the agreements are finalised," he added.

Quick facts: Columbus Energy Resources PLC

Price: 1.85 GBX

AIM:CERP
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Market Cap: £17.3 m
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