REG - Challenger Energy - AREA-OFF 3 - URUGUAY

Challenger EnergyAnnouncement

03/07/2023 07:00

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RNS Number : 6469E  Challenger Energy Group PLC  03 July 2023

3 July 2023

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

 

AREA-OFF 3 - URUGUAY

Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas
company, with a range of oil production, development, appraisal, and
exploration assets, is pleased to announce that the award of the AREA OFF-3
licence, offshore Uruguay, has been formally approved by the Administración
Nacional de Combustibles Alcohol y Pórtland ("ANCAP"), the Uruguayan national
regulatory agency.

This follows the Company's announcement on 5 June 2023 that its bid had been
received and that the Company expected formal approval of the award of the
licence to take 3-4 weeks. The Company expects that the remaining process for
all remaining approvals, finalisation and formal signing of the licence
documentation will take approximately 3-4 months, at which point the initial
4-year exploration period of the licence will commence. Further updates will
be provided as appropriate.

Additional details on the AREA OFF-3 block and the key terms of the licence
were included in the Company's RNS of 5 June 2023.

 

For further information, please contact:

 

 Challenger Energy Group PLC                     Tel: +44 (0) 1624 647 882

 Eytan Uliel, Chief Executive Officer
 WH Ireland - Nomad and Joint Broker             Tel: +44 (0) 20 7220 1666

 Antonio Bossi / Darshan Patel / Enzo Aliaj
 Zeus - Joint Broker                             Tel: +44 (0) 20 3829 5000

 Simon Johnson
 Gneiss Energy Limited - Financial Adviser       Tel: +44 (0) 20 3983 9263

 Jon Fitzpatrick / Paul Weidman / Doug Rycroft
 CAMARCO                                           Tel: +44 (0) 20 3757 4980

 Billy Clegg / James Crothers / Hugo Liddy

 

Notes to Editors

 

Challenger Energy is a Caribbean and Americas focused oil and gas company,
with a range of oil production, development, appraisal, and exploration assets
in the region. The Company's primary assets are located in Uruguay, where the
Company holds high impact offshore exploration licences, and in Trinidad and
Tobago, where the Company has a number of producing fields and earlier-stage
exploration / appraisal projects.

 

Challenger Energy is quoted on the AIM market of the London Stock Exchange.

 

https://www.cegplc.com (https://www.cegplc.com/)

 

ENDS

 

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