TIDMCEG

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 
  Eytan Uliel, Chief Executive Officer     882 
 WH Ireland - Nomad and Joint Broker      Tel: +44 (0) 20 7220 
  Antonio Bossi / Darshan Patel / Enzo     1666 
  Aliaj 
 Zeus - Joint Broker                      Tel: +44 (0) 20 3829 
  Simon Johnson                            5000 
 Gneiss Energy Limited - Financial        Tel: +44 (0) 20 3983 
  Adviser                                  9263 
  Jon Fitzpatrick / Paul Weidman / Doug 
  Rycroft 
 CAMARCO                                  Tel: +44 (0) 20 3757 
  Billy Clegg / James Crothers / Hugo      4980 
  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

ENDS

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END

MSCKZGGNKMKGFZM

(END) Dow Jones Newswires

July 03, 2023 02:00 ET (06:00 GMT)

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