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(Alliance News) - Joint-venture partners Predator Oil & Gas Holdings PLC and Columbus Energy Resources PLC said Wednesday work is continuing at the carbon dioxide pilot project in Trinidad.

The incremental production service contract will see the two oil & gas companies develop the Inniss-Trinity carbon dioxide enhanced oil recovery pilot project.

Columbus' wholly-owned subsidiary, Fram Exploration Trinidad Ltd, is the operator of the field.

In separate announcements, the pair said they have finalised and submitted the an updated carbon dioxide injection pilot proposal to Heritage Petroleum Co - the state oil company and licence holder.

Civil works are planned for completion in December this year. Predator has ordered long lead items to begin carbon dioxide injection in January 2020.

Initial results from the pilot are expected in the first quarter of 2020.

Predator Chief Executive Paul Griffiths said: "We are pleased to be working jointly and most effectively with Columbus to advance this exciting project. The company's near-term focus is to prioritise carbon dioxide enhanced oil recovery production growth by adding new carbon dioxide enhanced oil recovery opportunities using the experience we have gathered to date on the ground in Trinidad."

Separately, Predator has it has signed a confidentiality agreement with another operator of a mature producing oil field onshore Trinidad. Predator believes this project "may be another suitable geological candidate" for a pilot carbon dioxide enhanced oil recovery project.

"Adding new projects is not capital intensive and is consistent with the current risk-adverse market sentiments. The signing of a confidentiality agreement specific to a new carbon dioxide enhanced oil recovery opportunity is an important step forward," Griffiths added.

Shares in Predator Oil & Gas were down 1.0% in London on Wednesday at 4.90 pence each. Columbus Energy was 0.8% lower at 4.12 pence.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserve

Your right prefabsprout , PG always said that he was been very tight on money , booking his own flights and hotels to keeping the cash burn very low.
What we have to remember the CO2 is only 1 project and news on the others can drop at any time.

Guess they have found that they need to make alterations from the first submitted plan's, least we are moving forward. Still got morroco news soon

Great update this morning , expecting up 7 % , not down 7%, Its crazy.
I bought in at £10 and i should have topped up at £8.50p, but didn't
I am expecting this share to be at £15 next year due to the fact that TCG is no longer and at the moment its very difficult to get to some places like Turkey since its only Jet2 traveling out that way during the winter months.

Great company, But not so worried about the Dividend on this stock , its all about trying to make a profit from the Share price and hitting my £15 for a 50% profit

That's great martbmth
like you say, If the guy was professional, He wouldn't go public, the bloke is a hunt and i have seen PIs loose money on stunts. like that.
Looking at the Buys Vs Sells , The mms are just has bad. Cannot trust many on aim

If i was JD, I would do nothing, otherwise he will be replying to every negative post/twitter or what ever, We know what was in the results and all going well, Bids will have a good revenue stream coming in.

If you look at the SP, Its mostly blue , So MMS trying to keep the price down but not increasing on the buys. Sooner this share is out of aim, the better

If you ask me , TW needs to get a life plus what he says and what he has done are 2 different things

well there is one thing , I am not giving him a cent of my money, Nor am i selling any of my Bids shares

any more on that letter

i was told Shareprop is a shorter who bad mouths a company to lower the stock

Don't know the story on that, Can you post the artical, need to subscribe to read

Dont we have a EX Marker maker on the chat , i am sure someone said one day that he was a EX Marker maker , If so, Great to hear your thoughts

could easy get a RNS, Mixed week, could have been a lot worse, but WMH is looking good for bursting through £2 next week.

agree with SSTY, Yes they might have assets at the moment, but you cannot have them fitted out and then buying more hotels without going for a loan. I wound not touch this company while its expanding

wishing that i bought more on Monday , Regret of the week. Would have paid for a nice holiday

Those big 2 sells were buys around 8:30 am , Wish the MMS would get the buys and sells right

Get well soon Bob , Least It happened in the UK and not Egypt, You can have a holiday of a life time when bids multi bags

http://vsacapital.com/wp-content/uploads/dlm_uploads/2019/10/10-04-flow-test.pdf

We believe that todayâ??s announcement represents an important step for CERP as it executes on its longer term strategy. The announcement demonstrates how this management team is genuinely capable of executing on the ambitious strategy it has laid out with exposure to a region which has gained genuine global attention from the oil and gas sector. We look forward to further updates in relation to the geology and technical understanding of the asset which will enable us to incorporate Suriname into our valuation.We reiterate our Buy recommendation and target price of 21.6p

love the name