Columbus Energy Resources PLC Interim extension for Goudron field (8964R)

TIDMCERP

RNS Number : 8964R

Columbus Energy Resources PLC

02 July 2020

2 July 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus", "CERP" or the "Company")

Operations Update - interim extension for Goudron field

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to note that the current term of the Goudron Incremental Production Service Contract ("IPSC") with Heritage Petroleum Company Limited ("Heritage") has been extended from 30 June 2020 until 30 September 2020.

The Company confirms that it has reached an agreement with Heritage to extend the term from 30 June 2020 to 30 September 2020, allowing time for the Company and Heritage to sign the agreement for a longer term extension including obtaining the required Ministerial consent.

Leo Koot, Executive Chairman, commented:

"We have concluded our negotiations with Heritage to agree the terms and conditions for a long term extension of the Goudron IPSC. We have a short term extension until September 2020 pending the formal execution of the ISPC and will update the market when this is done."

Enquiries :

 
 Columbus Energy Resources Plc     [phone] 
 Leo Koot / Tony Hawkins 
 
 Beaumont Cornish Limited          [phone] 
 Nomad 
 Roland Cornish / Rosalind Hill 
  Abrahams 
 
 VSA Capital                       [phone] 
 Broker 
 Andrew Monk / Andrew Raca 
 
 

Notes to Editors:

Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus and aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner.

Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible. The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business.

To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP .

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July 02, 2020 09:45 ET (13:45 GMT)