Columbus Energy Resources PLC Corporate Update (3730G)
17 March 2020 - 6:00PM
UK Regulatory
TIDMCERP
RNS Number : 3730G
Columbus Energy Resources PLC
17 March 2020
17 March 2020
COLUMBUS ENERGY RESOURCES PLC
("Columbus" or the "Company")
Corporate Update - Coronavirus
Columbus, the oil and gas producer and explorer focused on
onshore Trinidad and Suriname, provides the following update on the
effect of the Coronavirus (Covid-19) ("Coronavirus") on its
operations.
As at 16 March 2020, Trinidad & Tobago has four (4)
confirmed cased of Coronavirus, with no confirmed fatalities.
On 16 March 2020, the Government of Trinidad & Tobago
implemented a range of measures to combat Coronavirus,
including:
-- Travel restrictions for entry into Trinidad & Tobago by
non-nationals, expected to last 14 days;
-- Closure of schools, bars and restaurants.
To date, the Company's production operations are being managed
and the supply chains in Trinidad (and Suriname) are largely
unaffected and remain open, albeit with some disruptions or delays.
With the Saffron well, the Company is managing the situation and
continues with the testing of the Lower Cruse.
The Company will continue to monitor and reassess the situation
in the light of the Government's announcement and will liaise with
Heritage Petroleum Company Limited, and its other joint venture
partners, as to the effect on its operations.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company is aware of the effect that Coronavirus may have on
its operations and the knock on effect of volatility in the capital
markets, including the oil market. The Company will plan as
necessary to minimise any disruptions to its operations and will
update the market as appropriate."
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
Contact Information
Columbus Energy Resources plc
Leo Koot / Gordon Stein / Tony Hawkins +44 (0)20 7203 2039
VSA Capital Limited
Financial Adviser and Broker
Andrew Monk / Andrew Raca +44 (0)20 3005 5000
Beaumont Cornish Limited
Nominated Adviser
Roland Cornish / Rosalind Hill Abrahams +44 (0)20 7628 3396
Notes to Editors:
Columbus Energy Resources Plc is an oil and gas producer and
explorer focused on onshore Trinidad and Suriname. In Trinidad, the
Columbus Energy group has five producing fields, one
appraisal/development project and a highly prospective exploration
portfolio in the South West Peninsula ("SWP"), which lies in the
extreme southwest of Trinidad and consists of stacked shallow and
deep prospects. In Suriname, the Company has recently secured an
onshore appraisal/development project. Columbus aims to create
transformational growth by developing its portfolio in a capital
efficient and disciplined manner.
Columbus is guided by the following core values; safe and
sustainable, stronger together, creative excellence, positive
energy, totally trusted and personally responsible.
The Company is led by an experienced Board and senior management
team with supportive shareholders and intends on leveraging its
expertise and experience to build an attractive and diversified
portfolio of assets across South America in order to build an oil
production led South American exploration business.
To find out more, visit www.columbus-erp.com or follow us on
Twitter @Columbus_ERP .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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