17 May 2023

Reach

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

PUBLICATION OF EQUITY RESEARCH REPORTS
INVESTOR RELATIONS PROGRAM

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 provide the following update.

Broker Research

The Company's joint brokers have both recently published equity research reports on the Company.

WH Ireland has published an initiating Equity Research Report on the Company, which is available only to eligible investors via the WH Ireland portal, at https://www.whirelandplc.com/research-portal#/portal/whireland/companies/af318334-f207-455d-8411-cf99337802b2 or www.research-tree.com.

Zeus Capital has published an updated research note on the Company. This is available only to eligible investors at https://zeuscapital.co.uk/log-in/research-portal-login/#/portal/zeus-capital/companies/af318334-f207-455d-8411-cf99337802b2 or www.research-tree.com.

Investor Relations Program

Following the Company's RNS dated 4^th May 2023, which provided a technical work progress update in relation its Uruguay AREA OFF-1 licence, the Company has engaged in various investor relations activities, which has resulted in a number of recent presentations, media articles and interviews being released by various media houses. A listing of these, as well as details of upcoming investor relations events, is set out in the Appendix to this RNS.

For further information, please contact:

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 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 Energy has a number of producing fields and appraisal / development projects. In Suriname, Challenger Energy has on onshore appraisal / development project. Challenger Energy's exploration licences in Uruguay and The Bahamas offer high-impact value exposure within the overall portfolio value.

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

https://www.cegplc.com 

APPENDIX

A: UPCOMING INVESTOR RELATIONS ACTIVITIES

·    The Company will participate in a live ShareSoc Webinar on Thursday, 18^th May 2023, at 4:00pm GST. Presenters will be Eytan Uliel, CEO, and Randy Hiscock, MD Uruguay. The webinar is open to all, who can register at: https://sharesoc.org/events/sharesoc-webinar--with-challenger-energy-ceg18-may-2023/

·    The Company will be presenting in person at the Proactive One2One Investor Forum on Thursday 18^th May 2023. The presenter will be Eytan Uliel, CEO. Venue: The Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, London, W1J 5EB in the Royal Suite (1^st Floor). The evening will consist of four presentations from 6:00pm and 8:00pm, with the Company presentation at approximately 7:00pm GST.

·    The Company will participate in a live London South East Natural Resource Webinar on Tuesday 23^rd May 2023, at 6:00pm GMT. Interested attendees can register at:
https://us02web.zoom.us/webinar/register/7116831217487/WN_cos7b3ffToOE_hQc6BgQmA The presenter will be Eytan Uliel, CEO.

·    The Company will provide a live presentation via Investor Meet Company on 26th May 2023 at 11:00am GST. Presenters will be Eytan Uliel, CEO, and Randy Hiscock, MD Uruguay. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet CHALLENGER ENERGY GROUP PLC via: https://www.investormeetcompany.com/challenger-energy-group-plc/register-investor. Investors who already follow the Company on the Investor Meet Company platform will automatically be invited.

·    The Company will be interviewed for UK Investor Magazine on Friday, 27^th May 2023, at 11:00 am GMT. Interviewees will be Eytan Uliel, CEO, and Randy Hiscock, MD Uruguay. The podcast of the interview will be available shortly after it is recorded at all usual outlets as well as at https://ukinvestormagazine.co.uk/podcasts/

B: ACCESS TO RECENT INVESTOR RELATIONS ACTIVITIES

·    London South East Extended Q&A titled "Challenger Energy CEO Eytan Uliel takes Q&A on Uruguay and Perseverance with London South East"
Available at https://youtu.be/feS0lokJNmM

·    DirectorsTalk Interview and Q&A titled "Challenger Energy Uruguay project to drive real shareholder value creation (LON:CEG)"
Available at https://www.directorstalkinterviews.com/challenger-energy-uruguay-project-to-drive-real-shareholder-value-creation-lonceg/4121118111

·    Vox Markets podcast titled "Assessment of Uruguayan block shows prospect inventory of 1 to 2 billion barrels"

Available at https://www.voxmarkets.co.uk/articles/eytan-uliel-of-challenger-energy-assessment-of-uruguayan-block-shows-prospect-inventory-of-1-to-2-billion-barrels-3c3fda9/

·    DirectorsTalk media interview titled "Challenger Energy CEO hails 'material global scale' Uruguay oil inventory"
Available at https://vimeo.com/821676688

·    Offshore Magazine media article titled "Challenger identifies three main prospects in offshore Uruguay acreage"

Available at https://www.offshore-mag.com/regional-reports/latin-america/article/14292901/challenger-identifies-three-main-prospects-in-offshore-uruguay-acreage

·    Upstream Online media article titled "Independent maps multimillion-barrel prospects offshore Uruguay"
Available at https://www.upstreamonline.com/exploration/independent-maps-multimillion-barrel-prospects-offshore-uruguay/2-1-1442223

·    Vox Markets media article titled "Challenger Energy shares jump on Uruguay update"
Available at https://www.voxmarkets.co.uk/articles/challenger-energy-shares-jump-on-uruguay-update-5b54389/

·    Proactive Investors media article titled "Challenger Energy sees multi-billion-barrel potential offshore Uruguay". Available at https://www.proactiveinvestors.co.uk/companies/news/1013292/challenger-energy-sees-multi-billion-barrel-potential-offshore-uruguay-1013292.html

·    DirectorsTalk Interview and Q&A titled "Challenger Energy Group 'Uruguay holds significant potential', Daniel Slater, Zeus Capital"
Available at https://www.directorstalkinterviews.com/challenger-energy-group-%E2%80%9Curuguay-holds-significant-potential%E2%80%9D-daniel-slater-zeus-capital/4121113062

·    IndustryWired Magazine coverage on CEG.
Available at https://industrywired.com/World's-10-Most-Innovative-Oil-Energy-Companies-in-2023/#page=22

ENDS