Corporate Update - Coronavirus

Source: 3/17/2020, Location: South America

Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, provides the following update on the effect of the Coronavirus (Covid-19) ("Coronavirus") on its operations.

As at 16 March 2020, Trinidad & Tobago has four (4) confirmed cased of Coronavirus, with no confirmed fatalities.

On 16 March 2020, the Government of Trinidad & Tobago implemented a range of measures to combat Coronavirus, including:

· Travel restrictions for entry into Trinidad & Tobago by non-nationals, expected to last 14 days;
· Closure of schools, bars and restaurants.

To date, the Company's production operations are being managed and the supply chains in Trinidad (and Suriname) are largely unaffected and remain open, albeit with some disruptions or delays. With the Saffron well, the Company is managing the situation and continues with the testing of the Lower Cruse.

The Company will continue to monitor and reassess the situation in the light of the Government's announcement and will liaise with Heritage Petroleum Company Limited, and its other joint venture partners, as to the effect on its operations.

Leo Koot, Executive Chairman of Columbus, commented:
"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. The Company will plan as necessary to minimise any disruptions to its operations and will update the market as appropriate."

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