Columbus Energy Resources plc Provides Update on Saffron Well

Columbus Energy Resources plc, formerly LGO Energy plc, is an oil and gas exploration, development and production company. The Company has assets in Spain and Trinidad. The Company's geographic segments include Spain, USA, Trinidad & Tobago, St. Lucia, Cyprus and UK. In Trinidad and Tobago, the Company, through various subsidiaries, holds interests in approximately three producing fields, such as Goudron, Icacos and Bonasse. The Gourdon field lies between the East Moruga and Beach Marcelle fields in south-eastern Trinidad. The Icacos oilfield lies on the Cedros Peninsular in southwest Trinidad. The Bonasse Field is located in the South West Peninsula. It also holds interests in various private petroleum leases. The Company holds interests in the La Lora Production Concession (La Lora), which contains the producing Ayoluengo Oilfield in Northern Spain. It holds interests in a combined acreage of approximately 560 square kilometers adjacent to the Ayoluengo Oilfield.