Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to announce an update for its Saffron well, onshore Trinidad.
· The Company has successfully completed drilling and casing operations for the Saffron well, reaching a total depth ("TD") of 4634 feet as planned.
· The Company completed open hole logging to a depth of 2545 feet, with cased hole logging to TD currently underway with processing and interpretation to be completed in the coming weeks.
· In the Upper, Middle and Lower Cruse (the tertiary, secondary and primary targets), the Company drilled multiple sand packages with high sandstone content and multiple oil shows to TD. The full potential of the well will be evaluated in the coming weeks upon the processing and interpretation of the cased hole logging.
· The Company is planning to complete and test the Saffron well in Q1 2020.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company is very pleased to have successfully completed the drilling of the Saffron well. Our drilling team has done a fantastic job in reaching target depth in a very complex geological area. I am excited that we have encountered multiple sand packages and multiple oil shows to TD, as we had hoped, including in the Lower Cruse which was our primary target. I believe this confirms the potential of the South West Peninsula. The Company has gained an enormous amount of knowledge about how to successfully drill wells in the South West Peninsula and we look forward to seeing the interpreted logging data and completing and testing the Saffron well in Q1 2020. In our view, the economics for the South West Peninsula are very robust and depending on the test results from Saffron, we look forward to further appraisal drilling as is appropriate."