Columbus Energy Resources - formerly LGO Energy - has a fantastic asset portfolio with significant potential and highly skilled people, all of which provides a strong platform for future growth, executive chairman Leo Koot will tell an event for investors later this evening.
He will say that the successful completion of rebranding to Columbus marked the start of a new journey as the focused which was currently focused on onshore Trinidad embarked on its ambition to grow in South America.
He will say: ""With our newly strengthened board and senior management team we aim to create shareholder value through maximising production from our existing high quality Trinidadian development assets to generate free cashflow and develop exploration targets across our portfolio in the South West peninsula in a capital efficient and disciplined manner.
"Alongside this we intend on leveraging our expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business."
The company also announced that finance director James Thadchanamoorthy was stepping down to pursue new opportunities and that Gordon B. Stein had been appointed chief financial officer effective immediately.
Columbus said Stein had more than 24 years of international experience in the oil and gas sector and was most recently CFO of Madagascar Oil.