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') has been extended from 30 June 2020 until 30 September 2020.

The Company confirms that it has reached an agreement with Heritage to extend the term from 30 June 2020 to 30 September 2020, allowing time for the Company and Heritage to sign the agreement for a longer term extension including obtaining the required Ministerial consent.

Leo Koot, Executive Chairman, commented:
"We have concluded our negotiations with Heritage to agree the terms and conditions for a long term extension of the Goudron IPSC. We have a short term extension until September 2020 pending the formal execution of the ISPC and will update the market when this is done."

KeyFacts Energy: Columbus Energy Trinidad and Tobago country profile