(Alliance News) - Columbus Energy Resources PLC said on Tuesday it has received government approval for the drilling of the Saffron prospect in the South West Peninsula, Trinidad.
The company expects to advance to drilling in the next few days, and the well should take around 30 to 45 days to complete and evaluate.
"This has been the culmination of many years of commercial structuring, technical work, planning, and, more recently, site preparation activities. We will update the market as drilling activities on Saffron progress," said Chair Leo Koot.
Shares in Columbus closed 4.9% higher at 4.25 pence in London on Tuesday.
By Lucy Heming; lucyheming@alliancenews.com
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