Increase due... Watch this space with on going projects!17 Apr 2020 10:09
"Columbus has a detailed work programme scheduled for the 2019-2021 period,
In late-October, the company confirmed it had spudded the Saffron prospect, located in South West Peninsula, after having received Ministry approval.
An update in January revealed that the Saffron well had been drilled successfully, encountering multiple oil shows.
By mid-February, CERP updated investors on the operation and more recently, in early April, the company said a more detailed update on the results is due to be released on 27 April.
Elsewhere, at the Inniss-Trinity project, Predator Oil & Gas Holdings PLC (LON:PRD) is advancing a pilot gas injection programme to enhance production.
At the end of March, Predator said the project remains on track for revenue, and, “encouragingly” the project economics are still attractive at US$20 per barrel oil (WTI crude).
Presently, it is preparing for a second phase of injection – using remote access for control, amidst coronavirus disruption.
“The next step is to inject CO2 at even higher pressures and on a continuous basis and Predator's CO2 provider is currently working to achieve this objective as quickly and safely as possible working under the current revised HSE protocols,” Predator said.
Predator has the right to acquire the project for US$4.2mln. The option has a deadline of September 30, 2020."