Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, provides the following update about the Inniss-Trinity Incremental Production Service Contract ("Inniss-Trinity IPSC").

Update on CO₂ pilot project

Further to the Company's announcement on 22 August 2019, the Company announces that work is continuing with Predator Oil & Gas Limited to advance the CO₂ pilot project on the Inniss-Trinity IPSC.   

Columbus has now successfully completed workover operations to survey downhole the AT-4 and AT-13 wells on the Inniss-Trinity IPSC in preparation for future CO₂ injection and enhanced oil production.  This follows the same workover operations successfully completed in August on the AT-5X well.

Predator has confirmed to Columbus that based on the AT-13 survey results, the Herrera #2 Sand has been selected  as being accessible for CO₂ enhanced oil recovery ("EOR") operations.  In this regard, AT-5X and AT-13 have been selected by Predator as the preferred initial wells for CO₂ EOR injection and production operations.

Leo Koot, Executive Chairman of Columbus, commented:
"Columbus and Predator continue to advance the CO₂ pilot project. We believe the CO₂ pilot project on Inniss-Trinity will give all parties a valuable insight into an alternative enhanced oil recovery mechanism for Trinidad and has the potential to transform oil & gas operations in the Inniss-Trinity field and in similar fields in Trinidad.  We look forward to working with Predator to further advance the project."

Background - Inniss Trinity IPSC

Fram Exploration (Trinidad) Ltd ("FRAM"), the operator of the Inniss-Trinity field and a wholly-owned subsidiary of Columbus, is party to the Inniss-Trinity IPSC with Heritage Petroleum Company Limited ("Heritage"). 

Inniss-Trinity field location (Image source: KeyFacts Energy)

The Company's interest in the Inniss-Trinity field benefits from an agreement with Predator whereby Predator will help plan and fund a CO₂ EOR Pilot Project (the "CO₂ pilot project").  FRAM remains the operator of the Inniss-Trinity IPSC, including work for the CO₂ pilot project.

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