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Columbus Energy Resources - Grant of Ministry approval - Saffron Prospect spud

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to confirm the spud of the Saffron prospect having today received Ministry approval for the drilling of the Saffron prospect in the South West Peninsula, Trinidad.  The Company expects to advance to drilling with the 8½ inch pilot hole in the next few days.  The Company expects the well will take approximately 30-45 days to complete and evaluate and will update the market when appropriate.

Leo Koot, Executive Chairman of Columbus, commented:

"The Company is pleased to receive Ministry consent for the Saffron well and, as mentioned at the AGM, I will be actively involved at the rig-site during the critical phases of the well campaign.  This has been the culmination of many years of commercial structuring, technical work, planning, and, more recently, site preparation activities.   We will update the market as drilling activities on Saffron progress."

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