(Alliance News, 17.Mar.2020) — Columbus Energy Resources PLC on Tuesday said operations in Trinidad are “largely unaffected” and remain open.
The oil & gas producer and explorer said as of Monday, Trinidad & Tobago has four confirmed cased of coronavirus, with no fatalities.
However, the government has implemented a range of measures including travel restrictions for entry by non-nationals, which is expected to last 14 days, and the closure of schools, bars and restaurants.
To date, Columbus said production is being managed and supply chains in Trinidad and Suriname remain “largely” unaffected. In terms of the Saffron well, onshore Trinidad, the company said it is managing the situation and continues with the testing of the Lower Cruse.
“The company is aware of the effect that coronavirus may have on its operations and the knock on effect of volatility in the capital markets, including the oil market,” said Executive Chair Leo Koot.
“The company will plan as necessary to minimise any disruptions to its operations and will update the market as appropriate,” added Koot.
AIM-listed Columbus shares were trading 22% lower in London on Tuesday at 1.25 pence each.
By Evelina Grecenko; firstname.lastname@example.org