Columbus announced that the Saffron well has discovered oil in the Lower Cruse and Middle Cruse, located in the South West Peninsula, onshore Trinidad. The key highlights of the Saffron well are: Oil discoveries in the Lower Cruse and Middle Cruse; 2,363 ft of Gross sands with six reservoir intervals of interest with a 47% Net/Gross ratio; Well reached Total Depth ("TD") at 4,634 feet, as planned; 6 intervals identified for testing, with 3 intervals tested to date; In the Lower Cruse, high quality, light oil (circa 40° API) recovered to surface; Results in line with the Company's pre-drill estimates for recovery of oil from a Lower Cruse development (11.5 mmbbl); Signed terms for a full carry of the second Saffron Lower Cruse appraisal and development well; In the Middle Cruse, discovery of a medium quality crude (17° to 20° API); Currently producing oil from first perforated interval in the Middle Cruse; Middle Cruse oil processed on location and first 340 bbls oil sold through existing infrastructure; Preparing to test the Middle Cruse in additional oil bearing zones; Preparing individual development plans for the Middle and Lower Cruse discoveries.