9th Jan 2020 11:21
(Alliance News) - Columbus Energy Resources PLC said Thursday it has successfully completed drilling and casing operation for the Saffron well, onshore Trinidad.
The oil & gas producer said the well was drilled to a total depth of 4,634 feet as planned. Also, hole logging to a depth of 2,545 feet was completed, with cased hole logging to a total depth currently underway.
In the Upper, Middle and Lower Cruse targets the company drilled multiple sand packages with high sandstone content and multiple oil shows to total depth, Columbus Energy said.
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 noted.
Columbus Energy said it is planning to complete and test the Saffron well in the first quarter of 2020.
Leo Koot, executive chair, said: "I am excited that we have encountered multiple sand packages and multiple oil show to total depth, 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," Koot said.
Columbus Energy shares were up 1.5% at 3.30 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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