Columbus Energy Resources : Res - Issue of Equity and TVR

23 December 2019

COLUMBUS ENERGY RESOURCES PLC

('Columbus', 'CERP' or the 'Company')

Issue of Equity -Total Voting Rights

Background

The Company has agreements with a limited number of contractors who provide services to the Company so that part of the relevant contractor's fee is paid in Company shares (the 'Contractor Shares'). This has been done in accordance with the Company's ongoing cash management strategy and, more specifically, to align the interests of the Company with the contractors who are helping it achieve its objectives.

The relevant services have now been provided and therefore the Company has issued 1,750,000 new ordinary shares to those contractors (the 'New Contractor Shares'), representing 0.20% of the 846,510,742ordinary shares in issue prior to the issuance of the New Contractor Shares.

The New Contractor Shares will rank pari passuin all respects with the Company's existing ordinary shares. An application will be made for the New Contractor Shares to be admitted to trading on AIM, ('Admission'), and it is expected that Admission will become effective and that dealings will commence on or around 30 December 2019.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:

As at the date of this announcement, and after the issuance of the New Contractor Shares, the Company's issued share capital consists of 848,260,742 ordinary shares with a nominal value of 0.05p each, with voting rights ('Ordinary Shares'). The Company does not hold any Ordinary Shares in Treasury.

Therefore, the total number of Ordinary Shares in the Company with voting rights is 848,260,742. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Columbus Energy Resources Plc	[phone]
Tony Hawkins / Gordon Stein
Beaumont Cornish Limited	[phone]
Nomad
Roland Cornish / Rosalind Hill Abrahams
VSA Capital	[phone]
Broker
Andrew Monk / Andrew Raca
Celicourt Communications Public and Investor Relations Mark Antelme / Jimmy Lea	[phone]

Notes to Editors:

Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ('SWP'), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus aims to create transformational growth by developing its portfolioin a capital efficient and disciplined manner.

Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible.

The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its 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.

To find out more, visitwww.columbus-erp.comor follow us on Twitter@Columbus_ERP.