The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Columbus Energy Resources PLC Operational Update - Phase 2 CO2 Trinity Inniss
01/06/2020 7:00am
UK Regulatory (RNS & others)
Columbus Energy Resources (LSE:CERP)
Intraday Stock Chart
Monday 1 June 2020
Click Here for more Columbus Energy Resources Charts.
TIDMCERP
RNS Number : 4563O
Columbus Energy Resources PLC
01 June 2020
1 June 2020
COLUMBUS ENERGY RESOURCES PLC
("Columbus" or the "Company")
Operational update - Phase 2 of CO injection in Trinity Inniss field
Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to announce the start of Phase 2 of the CO Pilot Project in the Trinity Inniss field.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company is very pleased to have started Phase 2 of the CO Pilot Project in the Trinity Inniss field, which has the potential to materially increase oil production in the field. Acting in conjunction with our partner, Predator Oil and Gas plc, we have already commenced injection of CO into the reservoir and will be building up to continuous injection in the coming weeks. The CO project is an important enhanced oil recovery project for both the Company and Trinidad and I look forward to updating the market as to the results of the CO injection in due course."
Background - Trinity Inniss CO Project
As previously announced, the term of the Trinity Inniss Incremental Production Service Contract ("IPSC") was extended to allow for the implementation of the CO Pilot Project.
Earlier in the year, the Company injected the first tank of CO into well AT5X in the Trinity Inniss field and is now proceeding with Phase 2, with the immediate objective of maintaining CO injection at the optimum peak rate of 9 metric tonnes per day. The Company will measure the impact of continuous CO injection on oil production in offset wells to AT5X and hopes to see material increases in production levels.
The Company's interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas plc ("Predator"), whereby Predator plans and funds the CO EOR Pilot Project (the "CO pilot project"). As part of the agreement with Predator, the Company and Predator share 50:50 in any incremental oil production (after Predator recovers its costs associated with the project).
Qualified Person's statement:
C02