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CHALLENGER GOLD LIMITED Capital/Financing Update 2012

Feb 2, 2012

64637_rns_2012-02-02_88d9614d-376e-4614-b5aa-dab14b5787f2.pdf

Capital/Financing Update

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MARKET RELEASE

3 February 2012

Challenger Energy Limited

TRADING HALT

The securities of Challenger Energy Limited (the "Company") will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Tuesday, 7 February 2012 or when the announcement is released to the market.

Security Code:

CEL CELO

of Hewill

Jill Hewitt Senior Adviser, Listings (Perth)

3 February 2012

Manager Announcements Company Announcements Office Australian Securities Exchange 10th Floor, 20 Bond Street SYDNEY NSW 2000

Trading Halt Request

Dear Sirs

Challenger Energy Limited ("Challenger") (ASX: CEL, CELO) hereby requests a trading halt of its securities from ASX, pending an announcement regarding funding for the further development its Mercury Stetson project, new opportunities and working capital.

Challenger requests that the trading halt take immediate effect and confinue until the release of announcement, in any case no later than the commencement of trading Tuesday, 7th February 2012.

Challenger is not aware of any reason why the trading half should not be granted.

Challenger is not aware of any other information necessary to inform the market about the trading halt.

Should you have any queries regarding the above, please do not hesitate to contact me to discuss.

For and on behalf of Challenger Energy Limited

Adrien Wing Company Secretary

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