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Columbus Extends Goudron IPSC with Heritage Petroleum

Source: www.gulfoilandgas.com 4/6/2020, Location: South America

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, notes that the current term of the Goudron Incremental Production Service Contract ("IPSC") with Heritage Petroleum Company Limited ("Heritage") was due to expire on 3 April 2020.

The Company confirms that it has reached an agreement with Heritage to extend the term to 30 June 2020, allowing time for the Company and Heritage to finalise the agreements for the longer term extension.

Leo Koot, Executive Chairman, commented:
"We are in the final stages of our negotiations with Heritage to agree the terms and conditions for a long term extension of the Goudron IPSC. We are pleased that we have an extension until June 2020 so that we can finalise the negotiations in an orderly fashion. We will update the market when the agreements are finalised."

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