- Oil and gas producer and explorer Columbus Energy said it had completed drilling at its Saffron well, onshore Trinidad, and aimed to carry out all tests on the well in the first quarter.

The oil and gas producer reached a targeted total depth of 4634 feet for the well as planned and drilled multiple sand packages with high sandstone content and multiple oil shows.

The full potential of the well would be evaluated in the coming weeks, with testing expected to be completed in the first quarter.

'I am excited that we have encountered multiple sand packages and multiple oil shows to TD, as we had hoped, including in the Lower Cruse which was our primary target. I believe this confirms the potential of the South West Peninsula,' said Leo Koot, executive chairman of Columbus.

At 8:42am: [LON:CERP] Columbus Energy Resources Plc Ord 0.05p share price was +0.25p at 3.5p

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