Columbus Energy Resources PLC Goudron Water Injection Pilot "A" - CEC issued (4299Q)
September 12 2017 - 1:00AM
UK Regulatory
TIDMCERP
RNS Number : 4299Q
Columbus Energy Resources PLC
12 September 2017
Embargoed for release at 7.00am
12 September 2017
Columbus Energy Resources Plc
("CERP" or "Columbus" or the "Company")
CEC issued for Goudron Water Injection Pilot "A" Programme in
Trinidad
Columbus, the oil and gas producer and explorer focused on
onshore Trinidad with the ambition to grow in South America, is
pleased to confirm that the Certificate of Environmental
Clearance("CEC") for Water Injection Pilot "A" Programme in the
Goudron Field has been issued by the Environmental Management
Authority ("EMA") of Trinidad.
The CEC application was submitted on 28 June 2017 with
additional data sent on 11 August, following requests for
clarifications from the EMA on Goudron Field facilities details.
The issue of the CEC will allow the Company to complete work on
installing the Goudron Field Water Injection Pilot "A" Facilities
for the Gros Morne 665 area. The pilot objectives are to increase
the rate and recovery in the Goudron Field by increasing reservoir
pressure from the current depleted levels and by establishing a
sweep of the oil towards production wells, including GY-664, GY-665
and GY-666. The forecasted increase in production as a result of
the Pilot "A" Programme, which will target the Gros Morne reservoir
interval, is from the current 30 BOPD withdrawals to a peak of over
150 BOPD and will include injection of over 450 barrels of water
per day in to up to three wells, GY-667, GY-668 and GY-209.
The Pilot "A" Programme, which the Company will commence
immediately from available cash resources, will also provide
incremental oil rate and recovery information that will be used to
make a decision on expanding the waterflood within 18 months of
start-up. Pilot programmes B, C and D are also currently being
planned and will target two areas of the shallow Goudron Mayaro
reservoir as well as potentially providing pressure support for the
Gros Morne/Cruse reservoir GY-670 well, which initially peaked at
over 1,150 BOPD in December 2014. Proposals for pilot programmes B,
C & D are planned for submission in the coming months, taking
into account early results and learnings from injectivity testing,
pilot "A" implementation and the stimulation campaign.
The facilities to commence produced water injection into the
first well, including pumps, filters, tanks and pipework are
procured, have been tested during well injectivity trials and the
entire pilot "A" system will be commissioned for continuous
injection service in the coming weeks. With the first conversion to
water injection workover planned to take place in September on well
GY-668, total committed costs to date are under US$300,000 which
have been met from existing cash resources.
The Waterflood Pilot will use existing produced water from the
Goudron Field as the source of injection water. This has many
advantages in that it allows the Company to move away from surface
discharge of fluids as well as injecting reservoir compatible fluid
into the pilot area. The use of produced water also allows an
inexpensive solution to the new pilot facilities with simple,
low-cost additions to existing facilities to be installed in the
form of produced water storage, filtration and injection pumping
systems much of which, as noted above, have already been procured
and tested during injectivity trials. Injectivity testing to
establish wellbore integrity and rate versus pressure parameters
has already taken place.
Leo Koot, Executive Chairman of Columbus Energy Resources
commented:
"We are thrilled that the CEC has been issued by the
Environmental Management Authority of Trinidad whom, as part of the
Government of the Republic of Trinidad and Tobago we continue to
enjoy a strong working relationship with. Following acceptance of
the CEC we will begin the Water Injection Pilot "A" Programme
immediately, funded from available cash resources.
I would like to thank everybody in the Columbus team for their
work in achieving this milestone, which was completed significantly
earlier than expected, and we have effectively brought forward
commencement of the waterflood pilot programme by nearly a year.
This was an important work stream for the Company as we continue to
execute our new strategy for growth. As part of that growth
strategy, we plan to submit further waterflood pilot proposals in
the near future."
- ENDS -
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014
Enquiries:
Columbus Energy Resources +44 (0) 203 794 9230
Leo Koot / Gordon Stein
Beaumont Cornish Limited +44 (0) 20 7628 3396
Nomad and Joint Broker
Roland Cornish / Rosalind
Hill Abrahams
VSA Capital +44 (0) 20 3005 5000
Joint Broker
Andrew Monk / Andrew Raca
Camarco +44 (0) 20 3757 4983
Public and Investor Relations
Georgia Edmonds / James
Crothers / Billy Clegg
This information is provided by RNS
The company news service from the London Stock Exchange
END
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