Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, provides the following update about the Pilot CO2 EOR Project in the Inniss-Trinity field using injected CO2.

Columbus Energy Resources PLC ("Columbus") and Predator have recently finalised and formally submitted the updated CO₂ Injection Pilot proposal to Heritage for approval, civil works are planned for completion in December 2019 and Predator has ordered a number of long lead items to begin the CO₂ Injection Pilot by January 2020. Initial results from the pilot would be expected in Q1 2020.

Separately Predator has entered into a Confidentiality Agreement with another operator of a mature producing oil field onshore Trinidad which the Company believes may be another suitable geological candidate for a Pilot CO2 EOR Project.

Paul Griffiths, Chief Executive of Predator, commented:
"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 CO2 EOR production growth by adding new CO2 EOR opportunities using the experience we have gathered to date on the ground in Trinidad. 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 CO2 EOR opportunity is an important step forward."

Link to Predator Oil & Gas Trinidad and Tobago country profile