VSA Capital Market Movers – Colombus Energy Resources
VSA Morning Flow Test, 12/11/19
Columbus Energy Resources (LON:CERP)
Columbus Energy Resources (LON:CERP) has announced that the Incremental Production Service Contract for the Inniss Trinity has been extended to enable the full implementation of the CO2 injection pilot project from January 2020 to December 2021 providing the project is implemented by 28 January 2020.
Perhaps most positively, the Minimum Work Obligation has been amended to be fulfilled by the implementation of the pilot project as opposed to the prior condition of drilling seven wells. This is particularly beneficial to CERPs partner Predator Oil and Gas (PRD LN) who are responsible for funding the MWO whilst CERP is operator. As well as a lower financial burden, not having to drill seven wells will enable CERPs management to focus on capitalising Read More – Source