Management and strategy changes
Columbus Energy Resources (CERP) has a new name, new management and new strategy. Leo Koot, an experienced and well respected CEO, has joined the company to reassess and revitalise the assets in Trinidad, bringing in new personnel. Management overheads have already been cut and a programme of in-fill wells has been put on hold. Instead, a series of low-cost interventions should increase production in the short term, moving the company towards a virtuous cash flow circle; we should see the results of the initial work programme in Q417. Any cash flow can be recycled into further development and potentially fund a material exploration programme, which could be game changing (SWP holds an estimated 1.3bnbbls OIP across a number of targets).Columbus Energy Resources is engaged in the production and exploration of oil and gas. Co. holds interests in three producing oil fields Goudron, Icacos, Bonasse, and in a number of private petroleum leases in Trinidad. The Gourdon field lies between the East Moruga and Beach Marcelle fields in south-eastern Trinidad. The Icacos oilfield lies on the Cedros Peninsular in southwest Trinidad. The Bonasse Field is located in the South West Peninsula.
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