(Alliance News) - London-based Columbus Energy Resources PLC on Thursday said it has extended a service contract with Heritage Petroleum Co Ltd from June 30 to September 30.
The oil and gas exploration, development and production company has agreed to extend the incremental production service contract with Heritage for the Goudron oil field located in Trinidad & Tobago.
London-based Columbus said that this will allow time for the company and Heritage to sign the agreement for a longer term extension including obtaining the required government consent.
Columbus Executive Chair Leo Koot said: "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."
Columbus shares were up 2% at 1.86 pence on Thursday afternoon in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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