Jersey-based oil and gas company,are continuing to advance the CO₂ pilot project on the Inniss-Trinity field in Trinidad.
The group, alongside joint partner, reported on Wednesday that they had finalised and submitted a proposal to Heritage for the approval of a CO₂ injection at the field.
The facilitation of a planned pilot injection of CO₂ is suited to the Inniss-Trinity Field in order to execute an Enhanced Oil Recovery methodology at the site, a strategy both Predator and Columbus have been actively planning up until now.
Civil works at the site are planned in December this year, whilst Predator has ordered a number of long lead items to initiate the CO₂ Injection Pilot by January 2020, with initial results to be expected in Q1 2020.
Paul Griffiths, Chief Executive of Predator, noted the team would be working “most effectively” alongside Columbus to advance what he described as “an exciting project”.
Reflecting on the group’s objectives, Mr Griffiths said, “The Company's near-term focus is to prioritise CO2 EOR production growth by adding new CO2 EOR opportunities using the experience we have gathered to date on the ground in Trinidad. Adding new projects is not capital intensive and is consistent with the current risk-averse market sentiments.”
He added, “The signing of a Confidentiality Agreement specific to a new CO2 EOR opportunity is an important step forward."
Executive Chairman of Columbus, Leo Koot, similarly expressed his enthusiasm on behalf of his firm over the advancement of the pilot project, stating:
"Columbus and Predator continue to advance the CO₂ pilot project. We look forward to completing the civil works necessary for CO₂ injection in December 2019 and injection in early January 2020."
Follow News & Updates from Predator Oil & Gasand Columbus Energy Resources
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
SP Angel research note on commodities and miners, featuring: Evraz* (EVR LN) – EVRAZ see Vanadium demand rising by 2.5% CAGR from 2019 – 2024 with prices supporting VRFB battery useage Bushveld Minerals* (BMN LN) 22.85p, Mkt Cap £256m – Peak Resources (PEK AU) – Annual report highlights progress towards Ngualla development and Tees Valley rare earth refinery Shefa Gems (SEFA LN) – Grade report looks virtually meaningless
Britain’s tea drinkers are a dying breed as younger customers desert the traditional builder’s brew in favour of trendier alternatives, the owner of PG Tips has warned, Shares in retail property firm Capital & Regional leapt the most in a decade yesterday, after the company accepted a £150m offer from South Africa’s Growthpoint Properties that will make the group its majority owner
Horizonte Minerals go through the results of the Pre-Feasibility Study for their Vermelho Nickel-Cobalt Project. Live Company Group discusses their upcoming shows. Chris Bailey covers, WH Smith, Domino's Pizza & Unilever.
SP Angel research note on commodities and miners, featuring: Aura Energy Limited* (AURA LN) – Work starts on new targets at Tasiast South gold tenement following reinterpretation of data Ormonde Mining* (ORM LN) – Barruecopardo 12-month loan facility for €10m at 18% pa interest + 3% pa commitment fee Shanta Gold (SHG LN) – Q3 update: on course for 80-84okz FY19 target