logo-loader

Challenger Energy on firmer financial footing

Last updated: 06:51 11 Mar 2024 EDT, First published: 09:00 09 Feb 2021 EST

Snapshot

  • Challenger Energy eyes another Uruguay farm-out as new licence is inked
  • Challenger Energy secures second Uruguay licence following Chevron farm-out deal for the first
Bahamas Petroleum Company PLC -

About the company

Challenger Energy Group PLC is a Caribbean and Americas focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of Uruguay and The Bahamas.

In Trinidad and Tobago, Challenger has five producing fields, two appraisal/development projects and a prospective exploration portfolio in the South West Peninsula.

In Suriname, the company has one onshore appraisal/development project.

Challenger's exploration licences in Uruguay, the South West Peninsula of Trinidad, and The Bahamas offer high-impact value exposure within the overall portfolio value.

How it is doing

11 Mar 2024

Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) has announced the formal signing of its OFF-3 licence, offshore Uruguay.

It seals the licence award announced by Challenger in June, and, further expands the explorer’s footprint in Uruguay.

The signing comes after last week’s major announcement, of the company’s new partnership with Chevron in the separate OFF-1 licence area.

The newly signed OFF-3 acreage spans over 13,252 square kilometres in relatively shallow waters, roughly 100 kilometres off the Uruguayan coast.

06 Mar 2024

Challenger Energy Group Plc's (AIM:CEG, OTC:BSHPF) new exploration partnership with US supermajor Chevron is “unambiguously positive and transformative” for the small-cap firm, that’s the view of stockbroker WH Ireland.

In London, on Wednesday, Challenger shares soared as much as 115% in early deals after it announced the farm-out deal which is expected to deliver $12.5 million of upfront cash along with ‘carries’ on project funding worth up to $35 million.

06 Mar 2024

Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) shares soared in Wednesday’s early deals thanks to its pivotal, value-adding farm-out deal with Chevron for the junior explorer’s project offshore Uruguay.

The AIM-quoted firm will receive $12.5 million of cash upfront along with funding and spending commitments for the exploration project.

What management says

11 Mar 2024

 

Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) CEO Eytan Uliel joins Proactive's Stephen Gunnion with news that the company has formalised a second offshore licence agreement in Uruguay, following a farm-out deal with Chevron for its first licence —AREA OFF-1 — signalling rapid advancements in the region.

Uliel said the latest development is a part of the junior explorer's plan and execution over the last 12-18 months, showcasing its strategic growth and commitment to its objectives in Uruguay.

NanoViricides makes progress as it completes dosing in Phase 1a COVID study

Proactive research analyst John Savin speaks to Stephen Gunnion after publishing a research note about the latest Covid trial from development-stage antiviral company NanoViricides (NYSE-A:NNVC). The company has successfully completed dosing in a Phase 1a COVID study, marking a major...

on 29/1/24