CHALLENGER ENERGY GROUP PLC

Capital/Financing Update • Nov 10, 2023

National Storage Mechanism | Additional information

RNS Number : 9982S

Challenger Energy Group PLC

10 November 2023

10 November 2023

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

FULL REPAYMENT OF BRIDGE LOAN

Challenger Energy (AIM: CEG), the Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets in the region, is pleased to advise that consistent with the terms of the short-term bridge loan (as per announcement of 27 October 2023), part of the proceeds from completion of the transaction for the sale of the Cory Moruga licence (as per announcement of 7 November 2023), have been applied to repayment of the bridge loan. Consequently, the short-term bridge loan has been fully discharged resulting in the Company becoming debt-free.

For further information, please contact:

Challenger Energy Group PLC Eytan Uliel, Chief Executive Officer	Tel: +44 (0) 1624 647 882
WH Ireland - Nomad and Joint Broker Antonio Bossi / Darshan Patel / Isaac Hooper	Tel: +44 (0) 20 7220 1666
Zeus Capital - Joint Broker Simon Johnson	Tel: +44 (0) 20 3829 5000
Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick / Paul Weidman / Doug Rycroft	Tel: +44 (0) 20 3983 9263
CAMARCO Billy Clegg / Hugo Liddy / Sam Morris	Tel: +44 (0) 20 3757 4980

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDZMGMVLRGFZM