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Bonasse Oilfield and License Area (Columbus, 100%*)**
At present, the Bonasse Field is producing at 10-20 barrels of oil per day. The Company is confident that the existing wells at Bonasse can be profitably rejuvenated at minimal capital expense from the Company’s existing cash resources.
- Bonasse Field discovered in 1911 by the Greig 1 well
- Production was suspended in mid-2016 following which a subsidiary of Columbus performed limited reactivation work on three Bonasse wells in June 2017 and a further three wells in August 2018
- Additional shallow drilling targets available within the field boundaries
- Columbus believes Bonasse Field rates can be improved through a combination of stimulation and low cost infill drilling
- The Bonasse License along with the Cedros and Icacos areas forms a continuous acreage in the South West Peninsula of Trinidad in which the Company has a 100% interest*
- The Bonasse acreage contains multiple exploration leads and prospects mapped from existing 3D seismic
*Subject to completion of various transaction (as previously announced)
** Exploration and Production (Private Petroleum Rights) Licence application with Ministry of Energy and Energy Industries